Teledata to merge 2 of its cos

Teledata to merge 2 of its cos

By agencies   |   Friday, 30 December 2005, 08:00 Hrs
Printer Print Email Email
MUMBAI: Chennai-based IT company, Teledata Informatics Ltd on Friday said it has decided to merge two of its companies with it.

The board of directors took a decision in this regard, the company informed the stock exchanges.
The board approved the merger of its two companies, Software Products & Services and Marine Business Activities, with Teledata, it said.

The board has appointed a committee under the Chairmanship of K Padmanabhan, Managing Director, to work out the modalities for the proposed demerger, it said.

The company provides ERP (enterprise resource planning) solutions to the education, marine and utilities verticals.

The company had recently acquired a controlling stake in Thailand-based shipping company, Picnic Marine Company Ltd (PMCL), a wholly owned subsidiary of Pinic Corporation and the U.S.-based Vanguard Technologies for an undisclosed sum.

Picnic Marine is a major player in ferrying of gas cylinders in Thailand and operates over 22 gas carriers, while Vanguard specializes in offering SAP, mySAP and e-commerce solutions consultancy services and has offshore development centers (ODC) in Bangalore and Ahmedabad.

Write your comment now
Submit Reset