South Africa IT co buys 50 pc in Inflow Technologies
South African IT company Datatec Ltd said on Thursday that it had bought 50.01 per cent stake in Bangalore-based Inflow Technologies Private Ltd, an ICT distribution business, for an undisclosed amount.
By PTI |
NEW DELHI: South African IT company Datatec Ltd said on Thursday that it had bought 50.01 per cent stake in Bangalore-based Inflow Technologies Private Ltd, an ICT distribution business, for an undisclosed amount.
Datatec said in a statement the remaining 49.99 per cent stake in Inflow will be held by management and existing shareholders. Inflow operates on 'Technology Enabler' business model which ensures integrated solutions using best of breed technologies and services are delivered to customers through leading System Integrators and Resellers across 12 locations in India and Sri Lanka.
"India is a very large and fast growing market offering strong prospects in our sector with a lower cost of entry compared to many other developing markets and potentially higher returns and greater organic investment opportunities," Datatec Chief Executive Jens Montanana said in the statement.
In the year to ending March 2008, Inflow reported revenue of $32 million and has more than 130 employees. The acquisition of a 50.01 pc stake in Inflow, with its presence in nine key Indian cities, provides Datatec with an excellent entry point and initial footprint in India. Inflow also has operations in Sri Lanka and Singapore, the statement said.
Byju Pillai, CEO of Inflow Technologies, commented this investment along with access to global best practices of Datatec in value added distribution gives us greater ability to grow our market share, make alliances with new technology vendors and expand into new geographies
Datatec said in a statement the remaining 49.99 per cent stake in Inflow will be held by management and existing shareholders. Inflow operates on 'Technology Enabler' business model which ensures integrated solutions using best of breed technologies and services are delivered to customers through leading System Integrators and Resellers across 12 locations in India and Sri Lanka.
"India is a very large and fast growing market offering strong prospects in our sector with a lower cost of entry compared to many other developing markets and potentially higher returns and greater organic investment opportunities," Datatec Chief Executive Jens Montanana said in the statement.
In the year to ending March 2008, Inflow reported revenue of $32 million and has more than 130 employees. The acquisition of a 50.01 pc stake in Inflow, with its presence in nine key Indian cities, provides Datatec with an excellent entry point and initial footprint in India. Inflow also has operations in Sri Lanka and Singapore, the statement said.
Byju Pillai, CEO of Inflow Technologies, commented this investment along with access to global best practices of Datatec in value added distribution gives us greater ability to grow our market share, make alliances with new technology vendors and expand into new geographies
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