i-Flex to buy two foreign firms

Source: PTI

November 16, 2004 12:09 IST

IT major i-Flex Solutions on Tuesday said it was planning to acquire two entities in the US and France as part of its efforts to have inorganic growth.

The board of directors has approved two strategic initiatives, including the acquisition of the US-based image sensor technology experts Equinox Corporation, and picking up 33 per cent stake in the French treasury software specialist firm Login SA, i-Flex said in a message to Bombay Stock Exchange.

Both the initiatives are part of the i-Flex's inorganic growth strategy and aimed at strengthening its solutions portfolio for the global financial services industry, the communique said.