Accel Group Ltd to leverage Fujitsu ICIM buy
lasertecdiesystems.com
Our Bureau (BL)
CHENNAI, Oct. 24
THE Accel group, after the acquisition of Fujitsu ICIM's Systems and Services division, plans to become one of the country's largest IT services provider.
Accel Ltd, the holding company of all the Accel group companies, recently signed a deal to acquire the systems and services division of Fujitsu ICIM Ltd, for a consideration of Rs. 12.25 crores, and additional liabilities of about Rs. 12 crores.
According to Mr. N.R. Panicker, Chairman, Accel Ltd, the newly created Accel ICIM Systems and Services Ltd would become an infrastructure resource planning (IRP) solution provider by cutting down the total cost of ownership of IT infrastructure for clients.
The other group companies are Accel Technologies, which is into VLSI design and embedded systems, and Accel USA Inc, which provides software professional services. Accel Ltd, which is into software and telecom products, will evolve as a major applications software development company in the near future, according to Mr. Panicker.
With the acquisition of Fujitsu ICIM's division, the Accel group will clock a turnover of Rs. 150 crores ($35 million) during the current year. Between January and September, 1999, the Fujitsu ICIM services division had generated a revenue of about Rs. 23.5 crores. Accel ICIM, during the current financial year (till date) had generated a revenue of Rs. 60 crores, according to company officials. |
