Rolta to buy US-based inland security tech company

Rolta India Ltd, the geospatial information and engineering services firm, is buying an inland security technology firm in the US, sources familiar with the development said. The demand for inland security technology is enormous from various security agencies. The idea is to acquire the technology and build intellectual property (IP) on top of that. Rolta will then export the same from here.

Some of Rolta's earlier acquisitions have not fared well due to the downturn in the US. The company expects to earn 50% of its revenues from the geospatial business, 28% from engineering & infrastructure design and the rest from its software services by 2010.

Currently, about 60% of Rolta's business comes from the geospatial segment and about 30% from engineering design. Last month Rolta received shareholder approval to raise about Rs 1,250 crore.