Rolta, the Mumbai-based geospatial and engineering services company, is evaluating the possibility of setting up a joint venture in South Africa, according to a top company official.
The company, which has contracts worth $30 million in its kitty from the African region, operates through its offices in Saudi Arabia.
Speaking to
The South African Government has pushed companies across sectors to sell part of their operations to local investors, to help make good for the previous Government's Apartheid regime.
Talks begin
Rolta has already begun talks with potential partners and expects to seal a deal sometime next fiscal.
Through this venture, Rolta could tap into some of the other countries in Africa such as Namibia, Kenya and Nigeria, analysts say.
Rolta has secured an enabling resolution to raise funds to the tune of $150 million. The company is targeting buys of software product companies that can enhance its offerings in the homeland security space for $5-20 million (Rs 20-80 crore).
Recently, the company acquired the complete portfolio of CommandBridge Security technologies, which provides situational awareness and response software solutions for maritime security.
“We are targeting all levels of homeland security…even within maritime security (the company's last acquisition) there is enough scope of expansion. We are working on closing an acquisition in the next 30-60 days,” said Mr Singh.
Recently, the 4,000-staffer company reported a 145.5 per cent jump in net profit for the third quarter ended December 31, 2010, thanks to a one-time gain on the sale of the company's stake in Shaw Rolta.