Octant Interactive Technologies Ltd, a Mumbai-based software solution company will acquire two power plants in Orissa. This is part of company’s plan to diversify its business, from software solution and interactive technology space to power generation.
The two target companies, Indravati Energies Pvt Ltd and Vani Energies Pvt Ltd, are in the hydel power space and have a total power generation capacity of 17.5 MW, said the company in a filing to the stock exchange. Octant has appointed Alpha Power Consultants as its financial advisors.
Last month, Octant has acquired Esha News Monitoring (ENM), a broadcast monitoring & analysis firm offering services across corporates, government and non government ortganisations.
Net sales and net profit of Octant in the financial year 2008-09 were Rs 53.67 crore and Rs 56.7 lakh respectively.