NetAcross, xchange21 Merge to Form INIQUA
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NEW DELHI -- The Delhi-based Web integration company, NetAcross OLS, and the Singapore-based Indian entrepreneur Dilip Keshu's e-consulting firm, xchange21, are merging to create INTIQUA International.
The merger will see xchange21 complementing its offerings with NetAcross and together, the two firms will harness their core expertise to offer services for a complete suite of e-solutions. Both NetAcross and xchange21 are part-funded by eVenture, a joint venture between Softbank and Newscorp.
According to Manish Modi, promoter of the NetAcross, the merger had taken through the stock swap route, though he wouldn't disclose the swap ratio.
Xchange21 chairman Dilip Keshu has taken over as the chairman of the new entity, while Modi is the co-chairman of the merged entity. xchange21 president Andrew Shields will continue to be the president of the new entity. INTIQUA will be headquartered in Singapore.
INTIQUA will have presence in the US, UK, Middle East, Singapore and India. The merged entity's business plans include expanding operations in Hong Kong and Australia and kicking off e-utilities practice. The total staff strength of the company would be over 400 and its expected revenue for 2001 is $20 million.
It has a worldwide customer base of over 50, including Fortune 1000 companies, a statement from the company said. The company offers network infrastructure solutions that support multiservice applications - from the desktop to the wiring closet and backbone to WAN.