Teledata buys eSys Tech for $105 m

MUMBAI: Chennai-based Teledata Informatics has acquired a majority stake in eSys Technologies, the Singapore-based distributor of hard drives and PC manufacturer for $105 million. eSys is a $2-billion privately held firm started by Indian entrepreneur Vikas Goel. Teledata provides software and solutions for the marine, education, telecom and utility sectors.

The investment will enable Teledata to capitalise on the synergies between the two companies and accelerate business, a company release said. It has picked up the stake in the Singapore company through a fresh infusion of capital.

eSys derives nearly 95% of its revenues from distribution and manufacture of hardware — it distributes hard disk drives and other computer components. It also produces personal computers, some under contract manufacturing, while it also sells under its own brand name.

The promoter of eSys, Vikas Goel, who would continue to hold 49%, said his company was setting up a PC manufacturing facility in Himachal Pradesh at an investment of Rs 250 crore.

It has a facility in New Delhi which will be gradually closed down and the entire production would shift to the Himachal unit, which would have an annual capacity of 1 million units.

eSys now manufactures more than 2 million PCs annually at its facilities in Singapore, India, US and the Middle East.