IT peripherals company, Ricoh India, is eyeing acquisition of small and medium enterprises (SME) in the country to expand its IT product portfolio. The company is aiming to gross nearly a quarter of its revenues from IT-related products in the three years.

“We are looking at new verticals and will acquire strategic small and medium business units having a staff strength of 500 to 1,000 people,” Mr Tetsuya Takano, managing director and CEO, Ricoh India, told Business Line . In May this year, Ricoh acquired Noida-based SME, Momentum Infocare to enter into the IT products vertical.

Ricoh India is a 73.6 per cent subsidiary of Japan's Ricoh Company. The group's core businesses include office-based imaging solutions through digital printers. It competes with Hewlett Packard (HP), Canon and Xerox in the segment.

The Indian arm had clocked revenues of Rs 300 crore last fiscal and is eyeing a 200 per cent growth in revenues by 2013-14. The company has targeted revenues of Rs 450 crore during the current fiscal. It has no manufacturing unit in India and imports most of its products from Japan and Taiwan.

Ricoh India, on Friday, launched three new laser printers in the eastern region with an entry level price of over Rs 9,000.

According to Mr Takano, the company is also planning to increase the number of channel partners to 400 – from the current 300 – by the end of this fiscal and to 800 by the end of March 2014.

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