Date:07/01/2005 URL: http://www.thehindubusinessline.com/2005/01/07/stories/2005010702020500.htm

Back Acrodex forays via venture with EISS

Our Bureau

Bangalore , Jan. 6

ACRODEX, a North American IT business group, is making a strategic equity investment in EISS Pvt Ltd to craft a new joint entity called aXcend Automation & Software Solution. The company did not disclose the quantum of the investment.

The entry of $150 million Acrodex into India is significant because it extends the successful Indian IT outsourcing march into a hitherto unexplored area - automation of the manufacturing and utilities sector, leveraging domain competencies in offshore.

The new entity will be based in Bangalore and leverage the global access, resources and expertise of the group in the areas of real time connectivity of the enterprise to the shop floor. aXcend also announced the setting up of a full-fledged India technology centre in Bangalore.