ITC TECH ARM TO ANNOUNCE US BUY

Bangalore
The Economic TimesThe information technology arm of ITC Ltd, India's top cigarette firm, will announce the acquisition of a US-based technology firm around noon on Tuesday, a public relations firm said in a statement issued on behalf of ITC Infotech.

Further details of the announcement were not immediately available. Last month, ITC Chairman Y C Deveshwar said that the company was in talks to acquire a US-based information technology firm and the acquisition would be made through ITC Infotech.

ITC, 31.7 percent owned by British American Tobacco Plc, has interests in technology outsourcing, retail and packaging, and is expanding a range of foods and personal care products to cut its dependence on cigarettes.