Religare Technova announces completion of restructuring plans
Religare Technova will now sharply focus on its core of IT products and solutions for the BFSI segment.
By ET Online |
New Delhi: Religare Technova Ltd ( RTL), an integrated IT products and solutions company having presence across 20 countries, has announced completion of the de-merger of its global BFSI-led products business (erstwhile Religare Technova Global Solutions Ltd) from its healthcare IT businesses. Religare Technova will now sharply focus on its core of IT products and solutions for the BFSI segment.
The company also announced a recast of its global management team and its board, with Ralph Horne now being appointed as global CEO & managing director.
Commenting on the development, Ralph Horne, global CEO & managing director, Religare Technova, said, “This move is in line with our strategy of expanding our business operations of global BFSI-led IT products and solutions. The BFSI sector has entered into a high growth trajectory and will continue to witness good growth in near future. There is a demand for IT and software solutions to optimize and increase the efficiencies of various organizations. To unlock the value for the shareholder and cater to both the growing markets, we decided to demerge our financial products IT software business from its healthcare IT solutions business.”
As a result of the restructuring, India has also been made the global development center for the business, with all operations housed out of RTL’s Noida facility near New Delhi.
The company also announced a recast of its global management team and its board, with Ralph Horne now being appointed as global CEO & managing director.
Commenting on the development, Ralph Horne, global CEO & managing director, Religare Technova, said, “This move is in line with our strategy of expanding our business operations of global BFSI-led IT products and solutions. The BFSI sector has entered into a high growth trajectory and will continue to witness good growth in near future. There is a demand for IT and software solutions to optimize and increase the efficiencies of various organizations. To unlock the value for the shareholder and cater to both the growing markets, we decided to demerge our financial products IT software business from its healthcare IT solutions business.”
As a result of the restructuring, India has also been made the global development center for the business, with all operations housed out of RTL’s Noida facility near New Delhi.
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