Business Daily from THE HINDU group of publications
Tuesday, Dec 09, 2008
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Business Daily from THE HINDU group of publications Tuesday, Dec 09, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Software States - Kerala RM ‘slowly and steadily’ getting ready to enter Indian market
Sankar Radhakrishnan Thiruvananthapuram, Dec. 8 Slow and steady seems to be the guiding principle at RM Plc. The UK-based company, which develops ICT products, services and systems for educational institutions, started eyeing India as a possible market a couple of years ago. It then did its homework on the Indian market through a couple of rounds of market research and is now preparing to launch its products in the country. RM plans to enter the Indian market in 12 to 18 months, says Mr Terry Sweeney, CEO, RM Plc. It is now looking at which products can be sold in the country. The company adopted a similar, slow and steady strategy when it entered the US market in 2003, he explains. It is only over the past year or so that it has ramped up its operations in the US, where it has also acquired a local educational technology company, he points out. The company, though, has been present in India since 2003 through its subsidiary RM Education Solutions India (RMESI) based at Technopark, Thiruvananthapuram. RMESI does software development and product support for its parent and has about 250 employees. RM is now looking at what additional work can be routed to RMESI from other companies in the RM group, Mr Sweeney says. The facility in Thiruvananthapuram is expected to continue to grow steadily, he adds. With revenues of £289.5 million and profit before tax of £15.4 million in the fiscal ended September 30, the company’s growth is healthy, Mr Sweeney believes. And though the economic environment seems rather difficult, he’s optimistic that the company’s focus on the education sector will help it ride out the crisis. “Education is a priority for any Government, even when the times are tough,” he points out. In the medium term, spending on education is unlikely to fall, though competition in the market for ICT-enabled educational products is likely to get stronger, he adds. More Stories on : Software | Education | Kerala
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