LIBERTY GROUP TAKES OVER KOCHI-BASED IT FIRM
Kochi (Kerala), February 8, 2008 (IANS)
IT major Digital Liberty Group (DLG), Friday announced it taking
more than a 55% stake in the Kochi-based Comprehensive Software
Solutions and Services (CS3). DLG, one of the world's fastest growing
companies, has diversified business interests across the globe and
is operating in the fields of IT, real estate, hospitality, global
investments and genetic engineering. CS3 has been instrumental in
providing high-end software solutions to leading utilities and vertical
markets ever since its inception in 2002.
the takeover, O.K. Sanjit, chairman of DLG, said they have been
pursuing global investment opportunities, especially in the emerging
markets. The company is committed to maintaining its active presence
in the most vibrant markets such as India, China, Japan and the
Gulf countries apart from the US, he added. "We are strengthening
our presence in the Indian IT sector with this takeover and many
more will come in the next few months," said Sanjit.
Vinoj, managing director, CS3, said this was an opportunity for
CS3 and its customers to gain access to global quality software
solutions and services. "This will also provide CS3 workforce
an opportunity to be part of global software initiatives, including
prospect to work on live onsite projects," said Vinoj.
DLG and CS3 are working towards consolidating the merger process
and once it is through, CS3 will go in for a re-branding exercise
targeted towards positing it as a DLG group company. CS3 will also
undergo a revamp by adding 150 top quality IT professionals.