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July 25, 2001
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Money > Reuters > Report July 25, 2001 |
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Aptech looking for acquisitions in East Europe, South AmericaIndian software and training firm Aptech Ltd said on Wednesday it was looking at acquisitions in South America and East Europe in a bid to push growth amidst a global IT meltdown. "We're looking at some markets where there are existing players, like the South American market and the East European market," Pramod Khera, Aptech's chief executive for training and education, told reporters on the sidelines of a news conference. Khera said Aptech was in talks with some training firms in these markets but could not say when the deals may be concluded. Aptech, one of India's largest software education firms, is present in over 42 countries and has over 2,245 education centres. Most of its overseas centres are located in South Asia, China and the Asia-Pacific. The firm announced last month it would hive off its computer education unit into a separate company and merge another group software firm with itself to give more focus and flexibility in acquisition to each of its businesses. Aptech is also placing greater emphasis on job-oriented courses and paying more attention to placements to help improve the appeal of its software education courses, Khera said. It placed a total of 34,000 students last year and had found jobs for 3,400 in May. He declined to comment on how severely Aptech had been hit by a decline in demand for software education but added he expected revenues from the division to grow 20 to 25 percent in each of the next three years. India's largest computer education firm, NIIT Ltd, reported earlier this month its revenues from education fell 42.5 per cent in the third quarter to June because of a global slowdown. Aptech's training and education revenues grew 20.1 per cent in the first quarter to March. It announces results for the second quarter to June on July 30. The firm will now begin offering training programmes designed on IBM's software products according to a new agreement it signed with IBM India Ltd. Aptech trained 436,000 students last year.
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