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News >> Technology >>
Geodesic to take over Simputer
By agencies
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Friday, 25 November 2005, 20:30 IST
BANGALORE: Mumbai based IT services company Geodesic Information systems is taking over PicoPeta, the inventors of the handheld computer Simputer.
Though the deal price has not been announced, the acquisition will be through a mix of cash and equity with the Bangalore based PicoPeta becoming a 100 percent subsidiary of Geodesic.
Geodesic Executive Director Prashant Mulekar said, There is a lot of synergy between PicoPeta and us since we are both in the wireless and communications space. Together, we can be leaders in the Indian product space and take it to another level.
PicoPeta Simputers CEO Swami Manohar said it has always been their goal to take Simputer global and this acquisition will create the synergies to become a large product company. The acquisition is part of its revised roadmap as it has the technology, while Geodesic possesses the market access, Manohar said.
PicoPeta, started in 2001 by Indian Institute of Science (IISc) professors invented the low-cost handheld device, which is manufactured by the Bharat Electronics and sold under the name Amida.
The Simputer is being used in areas like electricity meter reading, e-governance initiatives, sales and service automation, microbanking among others. The company has, however, found it difficult to ramp up sales numbers. Despite the targeted sales of 50,000, the company has managed to sell only 4000 so far.