Engineering and IT major, Rolta has acquired Piocon technologies Ltd of Chicago, USA. Piocon Technologies is a template based solutions provider that addresses critical operational needs of the refineries in the oil and gas sector. The Piocon solution is based on the Institute of Nuclear Power Operations (INPO) AP-913 standard, which was originally developed to ensure equipment reliability within the nuclear power industry, but is now widely accepted by other process industries.
The Piocon acquisition comes a part of Rolta's systematic growth plans. The acquisition will help Roltas as it can now avail Piocon's track record of over 15 years, a significant customer base including Fortune 100 companies, experienced consultants, unique methodologies and technologies, ongoing customer contracts, and a profitable revenue stream. It is believed that when fully deployed, the Rolta solution could save as much as $20 million annually for a medium-sized refinery, ensuring high returns on their investments. The estimated size of the addressable market for such solutions is $1 billion annually. Rolta, which employs over 5,000 professionals, has executed projects in over 40 countries.
The Piocon acquisition marks Rolta's third acquisition in this year. In July, Rolta had acquired WhittmanHart Consulting, a management and technology consulting services firm. The IT giant had acquired Broech Corporation (operating as TUSC), IT Consulting Company in January this year.
Rolta provides solutions in Geospatial Information Systems (GIS); Engineering & Design Services (EDS); and Enterprise Information & Communications Technology (EICT).