Aptech Ltd, a specialist in IT training services, has signed an agreement with Syntea SA of Poland agreeing to invest $1 million for an 8.33 per cent stake in the Polish company.
Through this agreement, the company plans to reach out to the market in Poland and later to Bulgaria and Romania.
Syntea SA provides educational support and consultancy in the field of information technology and related competencies (business language) for individuals, public institutions and the education sector.
This is Aptech's fist set-up in East Europe. “Syntea SA will start off by selling multimedia education products followed by computer education products. Through this agreement, Aptech plans to make $l1,00,000 by next year and $1 million in the next five years,” said Mr Ninad Karpe, CEO and MD of Aptech Ltd.
Aptech will get 10 per cent royalty on its products apart from the revenue it earn through shareholding in the Polish firm. The company then plans to reach out next to Latin America.
Aptech closed at Rs 93.85, up 4.98 per cent on the Bombay Stock Exchange on Wednesday.