labels: Infotech, M&A, Godrej Industries
Mumbai IT firm Tricom to acquire Godrej Global Solutions news
03 May 2008

Mumbai: Non-voice ITeS service provider Tricom India Ltd. is acquiring Godrej Industries' infotech arm Godrej Global Solutions Ltd, subject to approval from its shareholders for Rs19.63 crore for a 100-per cent stake, through a mix of cash and optionally fully convertible debentures.

Tricom plans to fund this buyout entirely through internal accruals.

Since 2002, GGSL has been offering  unique and customised business process outsourcing solutions and services for enhancing the effectiveness of its parent's business operations.

Godrej Global's specialises in three main domains - healthcare, data capture and data conversion. It showed a top line of Rs16.50 crore in 2007-08 and has shown immense growth potential, which Tricom feels will grow in the years ahead.

"Acquisitions were a part of the growth strategy for Tricom and we hope to grow organically and inorganically," says Chetan Kothari, managing director, Tricom India. "Post acquisition, the core team of GGSL will continue functioning in their respective positions and capacities."

Sanjay Tipnis, managing director, GGSL, said, "We are looking forward to exploring synergies as both the companies are focused in similar areas of business.  We believe that using the additional infrastructure that Tricom will provide, we will be able to grow faster and service our clients more efficiently."

GGSL currently employs nearly 650 people and has two facilities; one at Belapur in Navi Mumbai and the other in Chennai.


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Mumbai IT firm Tricom to acquire Godrej Global Solutions