INFOTECH TO ACQUIRE EUROPEAN AEROSPACE SERVICES COMPANY

Infotech Enterprises said today it expects to acquire a European aerospace services company for about $20 million, later this year. The firm is in talks with 3-4 firms valued between $10-20 million in the aerospace sector and the acquisitions will bring high-end competencies to the company’s global aerospace practice. Infotech expects its revenues to grow about 26% during the fiscal. It gets around 40% of its revenue from the aerospace sector, the company said.