• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai , Aug. 12

CHENNAI-based Teledata Infomatics which specialises in marine and education software verticals, has set aside a kitty of $ 12 million for overseas acquisitions, part of which will be funded by its Global Depository Receipts (GDR) issue of $ 8 million which has just been completed.

The issue consisted of 9 lakh GDRs at a price of $ 8.89 each, amounting to Rs 36.8 crore (at approximately Rs 46 to the dollar), said a statement from the company. There are 10 equity shares of Rs 41 each (Rs 10 face value, at a premium of Rs 31) underlying each GDR.

"We would most likely be acquiring one company in Europe and one in the US," said Mr K. Padmanabhan, Managing Director, Teledata Infomatics. These companies would be specialists in Enterprise Resource Planning (ERP), Customer Relationship Management, Supply Change Management and utility management areas," he said.

Teledata recorded net sales of Rs 59.31 crore and a net profit of Rs 14.16 crore for the 15 months ended March 31, 2004. The company's net sales for the first quarter of the current fiscal amounted to Rs 44 crore; its internal target for the whole year being Rs 215 crore, said Mr Padmanabhan.

Teledata will also shortly venture into the BPO space, in the marine and education verticals, he said. More than 99 per cent of the company's revenues are derived from exports — of this 75 per cent are from the marine sector, 20 per cent from the education sector and 5 per cent from other services.

The company is seeking to alter this mix this year, so that 45 per cent of revenues will come from marine services, 45 per cent from education, 5 per cent from utilities and 5 per cent from other services.

It has 14 products in the marine space and six in the education space. Its marine products are sold in over 12 countries through agents.

It is only one of nine companies worldwide in the marine software space and currently ranks third in number of installations, having installed its solutions in almost 550 ships worldwide, said Mr Padmanabhan.

Teledata has entered into joint venture partnerships with the Singapore and Thai Governments as well. The Singapore joint venture — Teledata Marine Systems — will market Teledata's marine products and also do Research & Development; while the Thai venture, called Teledata Systems & Services is in the education space and installs education management software for Thai educational institutions, said Mr Padmanabhan.

More Stories on : Software | Mergers & Acquisitions

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
New offer from BPL Mobile in Kerala

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line