The Hindu Business Line : MphasiS to buy Onida Info

BANGALORE: The MphasiS group has announced its plans to acquire Mumbai-based Onida Infotech Services, a division of Mirc Electronics Ltd for Rs 3 crore in an all cash deal.

Onida Infotech, with annual revenues of Rs 4 crore, operates in the areas of SAP implementation, maintenance and support activities and has an employee strength of nearly 80 people. The division was formed in 2000 as a wholly-owned subsidiary of Mirc Electronics and was subsequently merged.

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