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Press Release |
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TVS Electronics board approves merger with TVS e Technology |
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The board of TVS Electronics Limited (TVS-E) has
approved the merger of TVS-E with TVS
eTechnology at stock swap ratio of 1:1, subject
to requisite approvals. The board seeing several
synergies in the businesses of the two companies
has decided to merge the entities. TVS
eTechnology will be renamed, as 'TVS Electronics
Limited' and the new entity would be listed in
all the stock exchanges where the present TVS
Electronics is listed.
TVS eTechnology is a national player in the
customer support, technology support and
maintenance services (TMS) areas. TVS
eTechnology Limited offers field customer
support to products of TVS-E. The company has a
good all India geographical spread of field
service with ability to offer 'service' in the
Heart of India. TVS eTechnology also acts as a
preferred outsourced strategic partner to
various Brand Owners / Service Providers.
TVS-E, which is in the fast growing, Business
Process Outsourcing (BPO) space through its
Contract Manufacturing and Electronic
Manufacturing Services, has also identified
other synergistic BPO areas with high potential
for growth. One of the key BPO segments
identified is Technology Maintenance Services
(TMS), with field service as well as remote
technology maintenance and support. This space
is projected to grow at a rate of around 40%,
annually. NASSCOM projects potential business
opportunities at Rs.155 billion, by the year
2008. This is about 17% of the IT Enabled
Service (ITES) Opportunity in India. TVS
eTechnology's business in this segment thus has
huge potential for growth.
Integration
According to Mr. Gopal Srinivasan, Director, TVS
Electronics, "this merger is unique as the
merged entity will leverage the best practices
of the two companies, identify new marketing
opportunities and is expected bring big benefits
for TVS-E. The synergies derived from this
merger provide scope for economies of scale and
reduction in operating and administrative
costs."
TVS-E sees big opportunities in the TMS sphere
with more and more global brand coming into the
country and offering lifetime warranty on
products. This trend provides greater business
opportunities for companies with good
geographical spread and with good remote
management delivery capabilities.
With the merger, TVS-E can address a large part
of BPO space in TMS sphere with its reach across
'Heart of India' and also through its remote
management delivery capabilities. |
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About TVS Electronics: |
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TVS Electronics Limited, a part of the 90-year-old
TVS Group is one the largest manufacturer of Computer
Peripherals in the country. The range of offerings
includes Products - Dot Matrix printers, Keyboards,
Printing Supplies, Transaction Solutions, and Point
of Sale Products (PoS).
TVS-E has a large distribution and service network,
which reaches over 450 towns across the country
with two National Distributors, more than 200 Regional
Distributors and over 3,000 Authorized Dealer Partners.
The Company has manufacturing facilities in Tumkur,
Chennai and Himachal Pradesh |
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