Pramati Technologies, the Hyderabad-based IT firm, has spun off one of its technology platform,GroupSave, into different entity.
GroupSave that helps retailers to tap friends of their customers to enhance their business.
“You see certain sites that offer huge discounts. But then the merchant is not going to get anything as he ends up losing heavily. What use even if he gets a huge number of footfalls?” Vijay Pullur, President of Pramati Technologies, said.
“We have launched a new technology product that works exactly the opposite way. Here, the merchant is not going to lose. Instead, he will get potential customers through the customer referrals. The merchant would give discounts to such customers and do not offer a blanket discount for all. The product helps merchants leverage customers and reach out to their friends,” Pullur said.
After testing the product, the company is planning to roll out the product in the US market. Later, it will be made available in India.
Scouting for buys
Talking to Business Line over the phone from the Bay Area (San Francisco, the US) after the company acquired WaveMaker, he said the company is still on the lookout for the right fits in the four key areas the firm operates. They are cloud, social, mobile and big data.
He refused to divulge the size of the acquisition deal, citing non-disclosure agreements with VMware. He said the company would raise funds internally to support the purchase.
On going public, he said the company has no immediate plans to go in for an initial public offering.
On the overall IT scenario, he said the market is quite tough. But he hastened to say it was not tough for all. “If you deliver more value, it is not tough for you,” he said.
The Hyderabad-based firm also incubates small technology ideas, develops them into products and sells them off after spinning off them into separate entities. It sold Qontext to Autodesk last year.
But the company made a surprising announcement on Thursday that it is buying a firm (from VMware). “You buy some, you sell some. You need both to move ahead,”