Financial Daily from THE HINDU group of publications
Friday, Sep 24, 2004

Cross Currency

Group Sites

Info-Tech - Mergers & Acquisitions

Teledata Informatics buys stake in 2 overseas firms

Our Bureau

Chennai , Sept. 23

TELEDATA Informatics Ltd today said that it has acquired 53 per cent stake in Transworld Information Services, US, and 100 per cent equity stake in Insoft Systems Pte Ltd, Singapore.

According to a statement the company released to the stock exchange, it has "added four big companies to its group with their total combined turnover of Rs 150 crore and net profit of about Rs 15 crore."

Officials in Teledata were not immediately available for comment.

The statement added that Transworld Information Services is entering into consulting and service providing in the areas of ERP implementation, especially in SAP. It expects the size of its operation to be about Rs 35 crore for the current year and expects it to "grow to about Rs 50 crore in the coming years." With this additional line of business, Transworld is expected to generate a revenue of about $25 million in the coming year, the release said.

It may be recalled that Teledata Informatics had earlier this month announced acquisition of 100 per cent of equity in Bitech Dubai and 51 per cent stake in Bitech Singapore. The acquisition cost in both was around $4.5 million (around Rs 20 crore), Mr K. Padmanabhan, Managing Director, Teledata, had said at the time.

In July, Teledata announced that it was acquiring 21.14 per cent equity stake in Teledata Marine Systems Pte. Ltd (TMSPL) which is based in Singapore and is funded by the Economic Development Board of Singapore.

More Stories on : Mergers & Acquisitions | Software

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

Stories in this Section
Hexaware bags Lufthansa Systems deal

New Clip Art CD on Kerala
Madras HC okays SSI demerger scheme
Remote learning facility
Teledata Informatics buys stake in 2 overseas firms
i-flex inks pact with PeopleSoft
OMX inks pact with HCL
TCS opens office in Brussels
NEC Solutions gets aggressive on BPO space
VSNL enters broadband retail space
Political will, faster decision-making needed
Taking IT to rural areas possible: Premji

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

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