Logistic acquires 25% in Compudyne

By siliconindia staff writer   |   Monday, 19 January 2004, 08:00 Hrs
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BANGALORE : New Jersey-based Logistic Solutions is acquiring a 25% stake in Compudyne Winfosystems, a Bangalore-based listed firm that provides computer software and digital media services.

Avishkar Dahiya, president, Compudyne Winfosystems told an Indian daily that the modalities of the acquisition will be finalised during an EGM scheduled soon. Promoters hold 24% of the stake, with the balance held by public and corporate bodies.

Still reeling under the after-effects of an economic downslide and post internal restructuring, Compudyne made a loss of Rs 4 crore, on a revenue of Rs 41 lakh, in the second quarter of the current fiscal. Financial details of the deal are not known.

Logistic is buying into Compudyne to leverage the ready-made infrastructure it offers and its strengths in the computer animation and special effects space. Through this alliance, Compudyne hopes to benefit from the contacts that Logistic has in the US — a critical market for software service vendors.

The privately-held Logistic founded in 1990 has interests in consulting and placement services, biometric solutions, BPO, enterprise resource planning (ERP) and healthcare space. The company’s president Amit Limaye said the talent India offers will speed up the company’s foray into healthcare and BPO services.

Moving away from the commodity BPO space, Logistic’s focus is on high-end BPO such as litigation services for law firms and medical record processing services, which will help doctors reduce the time they spend on a patient.

Limaye told the daily that law firms that specialise in corporate litigation need an abundant amount of ready-to-use information, which means poring through huge volumes of legal database, scanning them, and collating them.

(Courtesy: Economic Times)

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