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India's ITC says tech arm acquires U.S. firm

BANGALORE
Mon Aug 18, 2008 11:37pm EDT

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BANGALORE (Reuters) - ITC Ltd (ITC.BO), India's top cigarette firm, said on Tuesday its information technology arm has acquired U.S-based technology firm Pyxis Solutions for an undisclosed sum.

Stocks  |  Mergers & Acquisitions

Last month, ITC Chairman Y.C. Deveshwar said the company was in talks to acquire a U.S.-based information technology firm and the acquisition would be made through ITC Infotech.

ITC, 31.7-percent owned by British American Tobacco Plc (BATS.L), 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.

(Reporting by Sumeet Chatterjee; Editing by Charlotte Cooper)
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