Indian Media giant MIC Electronics acquires InfoSTEP
Hyderabad, India based MIC Electronics, the leader in Light Emitting Diode (LED) display systems acquired majority stake in InfoSTEP Inc, a Global Business Intelligence solutions provider in December 2007.

InfoSTEP provides solutions in business intelligence, data integration, data mining, feedback management and multimedia solutions.” With this US acquisition, MIC hopes to sell its current LED offerings in US, which accounts for 45 per cent of the global LED market", said Dr. Ramana Rao, CEO and Chairman of MIC. LED displays contribute about 35 per cent to the MIC's total revenues. About 12 per cent of the company's revenues currently come from exports.

Mr. Sagar Anisingaraju, CEO of InfoSTEP explained that the acquisition has opened up many government and private institutions within Indian market for InfoSTEP offerings as well as providing much needed telecom vertical experience to InfoSTEP. Explaining the value, Mr.. Anisingaraju said “ While we have a been a leader in business intelligence in North America, we are seeing an increased demand for Business Intelligence services through out India and Asia Pac market and the MIC electronics acquisition gives the perfect platform to influence and lead the market in these geographies, at the same time providing us with expanded execution scalability within North American market".

Dr. Rao is also equally enthusiastic about the acquisition and says “ We are already seeing the value of this acquisition with our products being displayed in North America and ability to identify and sign strategic partnerships with leading display service providers in North America. Additionally, we are now able to provide complete display solutions that includes media analytics and dashboards to our clients increasing the value of core MIC offerings"

For more details about the company, please contact:contact@infostep.com