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Teledata plans to demerge businesses
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MR K. PADMANABHAN
Mumbai , March 21
The Chennai-based Teledata Informatics Ltd that has been on an acquisition spree this fiscal is planning a demerger of its marine, software and technology businesses over the next six months.
Talking to Business Line, Mr K Padmanabhan, Managing Director, Teledata, said the company was planning to spin off three companies by September.
"The company is set for massive topline growth during 2006-07 as our acquisitions - 12 this year and four in 2004-05, will begin showing results. From a turnover of Rs 356 crore in 2005-06, Teledata is set to cross Rs 1,050 crore this year. The projection for 2006-07 is at Rs 2,500 crore and we want to reward our shareholders through the demerger, given that the share price of the company is only around Rs 20," Mr Padmanahan said.
The Teledata Informatics share closed at Rs 20.15 on the BSE today, up form the previous close of Rs 18.70.
"We are going to focus more on communications - voice over Internet protocol - next fiscal. This segment will see major growth, from Rs 30 crore this year to about Rs 300 crore in 2006-07," he added.
Recent buy
Mr Padmanabhan was in town to announce Teledata's recent acquisition of Alpha Soft Services Corporation, US at a cost of $14.6 million. This was the twelfth acquisition by the Chennai-based company this fiscal, the costliest one being the $27-million takeover of Picnic Marine, Thailand in October 2005.
Alpha Soft is a $ 28-million company specialising in ERP, data warehousing and e-business. With this acquisition, Teledata will get a firmer foothold in the US, where Alpha Soft has a wide customer base.
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