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Indian company acquires majority stake in S'pore based eSys
By siliconindia
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Tuesday, 20 February 2007, 18:30 IST
MUMBAI: Provider of software and solutions for the marine, education, telecom and utility sectors Teledata Informatics has acquired a majority stake in eSys Technologies for $105 million. Singapore-based eSys a distributor of hard drives and PC manufacturer was started by Indian entrepreneur Vikas Goel and is currently valued at $2-billion. It has picked up the stake through a fresh infusion of capital.
The investment will enable Chennai-based Teledata to capitalize on the synergies between the two companies and accelerate business, a company release said. eSys derives nearly 95 percent of its revenues from distribution and manufacture of hardware. It also produces personal computers, some under contract manufacturing, and also sells under its own brand name.
The promoter of eSys, Vikas Goel, who would continue to hold 49 percent, said his company was setting up a PC manufacturing facility in Himachal Pradesh at an investment of Rs 250 crore.
The companys New Delhi facility 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, he stated. eSys now manufactures more than 2 million PCs annually at its facilities in Singapore, India, US and the Middle East.