MUMBAI, May 4, 2015 /CNW/ - Rolta India Limited, a leading provider of innovative IT solutions for many vertical segments, including federal and state governments, defense and homeland security, today announced the signing of definitive agreements for establishing a joint venture with Meprolight, a leading international electro-optics company.
To be owned 51% by Rolta and 49% by Meprolight, the JV will take advantage of technology transfer from Meprolight for manufacturing and developing state-of-the-art optronics devices based on image intensifier and thermal imaging technologies in India, for addressing the growing demand for night fighting capabilities by the Indian defence and security forces.
This JV will become operational on receipt of requisite approvals from respective governments and leverage a broad spectrum of cutting-edge technologies, in the area of optronics from Meprolight, and Rolta's leadership position in the India, to address large requirements of defence, paramilitary forces and state police.
Ms. Orly Katsav, Chairwoman, Meprolight Ltd, stated, "Our JV with Rolta will increase Meprolight's footprint internationally through this strategic partnership. The creation of this joint venture is a significant milestone for us and this win-win partnership will leverage the resources and expertise of both companies to serve the Indian optronics and electro-optical devices market."
Mr. K.K. Singh, Chairman and Managing Director, Rolta India Ltd., commented, "We are extremely pleased to be partnering with Meprolight to form this joint venture. This is an important event for our defence business and the next step in our efforts to address the complete sensor-to-shooter chain, through indigenous, made in India, solutions. Guided by a set of common values, this JV will share best practices through transfer of technology and bring in state-of-the-art optronics manufacturing capabilities into our country."
Rolta is a leading provider of innovative solutions for many vertical segments, including federal and state governments, defence/HLS, utilities, process, power, financial services, manufacturing, retail, and healthcare. Rolta is recognized for its extensive portfolio of indigenous solutions based on field-proven Rolta IP tailored for Indian defence/HLS. By uniquely combining its expertise in the IT, engineering and geospatial domains, Rolta develops exceptional IP-based cloud-ready solutions to enable its customers globally to readily exploit the power of BI, Big Data Analytics, and IT-OT Fusion. Rolta is a multinational organization headquartered in India. The company operates from over 40 locations worldwide and has executed projects in more than 45 countries. Rolta equity shares are listed on BSE and NSE in India, its GDRs are listed on the main board of London Stock Exchange and its 'Senior Notes' are listed on Singapore Stock Exchange.
Meprolight is a leading international electro-optics company, developing, manufacturing and marketing systems for infantry, armed forces, law enforcement agencies and civilian markets since 1990. Meprolight provides comprehensive solutions with a wide array of combat-proven products; electro-optical and optical sights and devices, night vision devices, thermal sights, laser rangefinders, hand held rangefinders and fire control systems and other tritium illuminated products and accessories for safety and security applications. Meprolight is a member of SK Group, a leading global defence and security group of companies. SK Group consists of a group of companies held and controlled by Samy Katsav. The group operates mainly in the defence industries, international business and real estate activities, worldwide.
For additional information, visit www.rolta.com
SOURCE Rolta India Limited
For further information: Media Contact: Mr. Atul Tayal, Jt. MD & COO - Domestic Operations, Member of the Board, Rolta India Limited, E-mail: [email protected], Tel: +91-22-2926 6666; Mr. Hiranya Ashar,Jt. MD & Group CFO, Member of the Board, Rolta India Limited, E-mail: [email protected], Tel: +91-22-2926 6666