Tekplay Systems acquires three US-based firms China expects IT market to reach 6 trn yuan by 2020

Tekplay has acquired three USbased technology firms that would take the total revenue to $30 million by this year, a top company official said on Thursday. The firm has acquired three companies - 'XcellFORCE', products company 'Tekoptimize' and technology solutions provider GlobalSoft Solutions for an "undisclosed sum", Tekplay Systems executive director Prabhuram said. "With these acquisitions, the company's consolidated annual revenue will grow to $30 million for the financial year 2017-18", he said. "The priority for current year would be to grow the existing and newly acquired businesses organically", hesaid. PTI< China's State Council on Thursday issued a guideline for the development of the country's information technology (IT) industry. The State Council expects China's IT industry to reach 6 trillion yuan ($901 billion) in value by 2020, based on an average annual growth rate of 11 per cent. The report includes references to nascent developments in ecommerce, robotics and artificial intelligence as well as technology for traditional industries including medicine and education. REUTERS<