Singapore headquartered eSys Technologies gets SGD 160 million investment from Teledata through its subsidiary
Singapore Headquartered IT Distribution major and PC Maker, eSys Technologies has signed an agreement with Teledata Informatics Ltd for a strategic investment of up to SGD160 million in eSys. Teledata Informatics Ltd is a technology solutions provider with a vision to be among the top 20 IT companies of the world.
The investment will help eSys continue and consolidate its growth, which has seen it growing from first year revenues of SGD187 million to revenues of SGD 3 billion in 2005. New capital from Teledata will also help eSys further its business by aiding acquisitions.
eSys started as a technology components distributor in the year 2000 and has grown to become a multinational with over 100 operations in more than 30 countries. Its product portfolio spans a range of technology products. It has also successfully diversified into PC Manufacturing with four manufacturing plants located in Singapore, UAE, USA and India. eSys is widely acknowledged to be one of the lowest cost PC manufacturers in the world today.
Teledata Informatics Ltd is a SGD 420 million software solutions and services company with global operations across 15 countries and total tangible, performing assets over 210 million SGD. These include 15 ocean-going vessels, 3 schools and 1 university, 1 port and one 25 MW wind power plant in South India. Since its inception in 1990, the company has demonstrated a first-rate growth to emerge as the global leader in its markets. Teledata has acquired a unique multinational character which is being strengthened with its ever-expanding global network of agents. Teledata is one of the fastest growing Indian companies and is proud to be one among the top 50 software services providers globally.
Commenting on the investment, Mr. Vikas Goel, eSys Group Chairman and Managing Director said, “We are pleased to close this investment, which will help us continue our growth. We see it as a strategic infusion which will help eSys consolidate its position as the market leader in IT Distribution, and strengthen its position as a leading PC maker”.
Echoing the sentiments, Teledata Managing Director K. Padmanabhan added, “We were very impressed by the growth which eSys achieved in a short span of time. Their business model is robust, and we see our investment as an opportunity to partner in eSys’ growth. The synergy between eSys and Teledata would accelerate the business levels with tremendous prospects”
Mr. Vikas Goel will also be joining the Board of Directors of Teledata Informatics. Welcoming Mr.Goel to the board, Mr. Padmanabhan said, ‘We would like to utilize Mr. Goel’s vision, global experience and acumen to further interests of Teledata group of companies’
Mr. Vikas Goel is a well known entrepreneur and has won numerous awards. He was Ernst & Young Entrepreneur of the year in Singapore in 2005 and was one of the top contenders for World Entrepreneur of the Year award in Monte Carlo in June 2006. Besides this eSys has won numerous awards including Enterprise 50 Award in 2005 given to most dynamic companies of Singapore and Enterprise of the Year 2005 in Singapore Business Awards.
