Vinay Umarji, Mumbai/Ahmedabad
Business Standard
In a bid to become a $ 50 million within two years, Elitecore Technologies is mulling to take the inorganic route. The Ahmedabad-based company is looking at Rs 100 crore acquisition in the US or European markets in the network security segment. As an option, the company is also open to technology acquisition from innovators in the country.
"We face a tough competition in the network security segment. Yet, recently we became the only Indian company in network security to feature in Gartner's report titled 'Magic Quadrant for SMB Multifunction Firewalls', along with the likes of CISCO, McAfee and Symantec. However, we would want to grow as quickly as possible and are looking at the inorganic route to do so," said Hemal Patel, chief executive officer of Elitecore Technologies Ltd.
While the company is pushing for revenue of $ 15 million (Rs 72 crore approx.) for the financial year 2009-10, by 2011-12, Elitecore intends to peg a turnover of $ 50 million in the network security segment. "We are primarily looking at a $ 20 million (Rs 100 crore approx.) acquisition of competition in the US or European markets since players there carry a larger footprints and will help us to grow large in a very short time. The good thing is that big companies don't see us as competition, which may help us in future acquisitions. We are also looking at technology acquisition from innovators in network security across the country," said Patel.
Talking further about the technology acquisition, Patel added, "We will create a platform for innovators to showcase their products and if we find a product suitable for our channel, we will either offer the innovator to be our OEM and earn royalties or allow to be acquired and be part of the company."
Meanwhile, the company will be simultaneously investing about $ 2 million (Rs 10 crore approx.) per annum on R&D to boost its network security offering and reach its $ 50 million turnover target earlier. Of the $ 15 million (Rs 72 crore approx.) revenue that Elitecore is targeting for financial year 2009-10, it expects to earn around $ 10 million of it from SMBs and the rest from large enterprises.
Wednesday, September 16, 2009
Subscribe to:
Post Comments (Atom)
Google Search
Blog Archive
-
▼
2009
(1022)
-
▼
September
(14)
- Intel may announce management overhaul today: reports
- Canon to provide multifunction printers to HP
- Software to help diagnose cardiac infections
- UK woos investment from India in IT sector
- State beats southern peers in IT infra projects
- New entrepreneurs shifting from IT-Related project...
- Indian scientist invents fastest disk encryption s...
- Polaris ties up with HK firm for foray into CHINA,...
- Elitecore eyes RS 100 crore acquisition in network...
- IBM logs on to SEWA
- SMES take the MES route
- A Framework for seamless integration
- LG to re-enter laptop biz with mini notebooks by y...
- Cypress eyes cheaper solar photovoltaics
-
▼
September
(14)
Drop Box
Popular Posts
-
Saahil Anant, New Delhi Financial Chronicle Global notebook manufacturer, Dell Inc is shifting its focus from the corporate customers t...
-
DNA Microsoft may soon be launching a SideWinder-branded keyboard this fall, and sure enough, Redmond is keeping the revitalized name al...
-
Chandigarh The Tribune As a part of the monitoring process of world-class integrated infrastructure coming up in the Rajiv Gandhi Techno...
-
R. Balaji, Chennai The Hindu Business Line Shriram Properties & Infrastructure Pvt Ltd has pruned the IT and commercial space in its ...
-
Jaipur, March 1, 2009 The Economic Times The Hindu Business Line India's largest public sector bank State Bank of India has signed...
-
New York The Economic Times Intel is expected to announce a management shake-up on Monday that will see its core chip business-head Patrick ...
-
Deccan Herald AP AG and Sybase have announced partnership to integrate SAP Business Suite software with Sybas' mobile enterprise appl...
-
L.N. Revathy, March 16, 2009 The Hindu Business Line If you are a student of Anna University, Coimbatore, then you will be the first to ...
-
Sachin Dave, Mumbai The Economic Times (Delhi edition) India is on a winning spree. At least in the ring. With a bronze in wrestling and ...
-
San Francisco The Economic Times Google has released a kit for software developers to create fun, hip or functional programs for the &qu...
Powered by Blogger.
0 comments:
Post a Comment