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Datamatics Technologies Limited Completes Amalgamation, Renamed as Datamatics Global Services Limited

Jan 29, 2009 12:00:00 PM

Mumbai, January, 29, 2009: Datamatics Technologies Limited (BSE: 532528, NSE: "DATATECH"), one of India's leading Business Process Outsourcing Organizations, announced today that it has successfully amalgamated with itself the operations of Datamatics Limited, a Group company engaged in software services. The merged organization has been renamed as Datamatics Global Services Limited, reflecting its global customers and delivery capabilities.

Datamatics had announced that the BPO and software services divisions would be amalgamated in June 2008. The systems, processes and teams of both organizations are being integrated. As per the scheme of amalgamation, shareholders of Datamatics Limited received 1.21 fully-paid up equity shares of Datamatics Technologies Limited of Rs.5 each for every 1 fully paid up equity share of Rs.10 each of Datamatics Limited. The new organization has shown steady growth in consolidated revenue and net profits in the past few quarters. With the amalgamation completed, Datamatics Global Services is expected to show improved financial performances in the next few quarters as it realizes the benefits of the merged entity and new business wins happen.

In view of the changes in the organization, the senior management team has embarked on an intensive customer-interfacing exercise that will last for a few weeks to brief senior executives at the customer organizations about the benefits of collaborating with the new organization.

Major customers and stakeholders of both the erstwhile organizations have expressed their confidence in the strong capabilities of the merged organization. A few existing customers have already expanded the scope of work after seeing the benefits of partnering with an end-to-end IT and BPO services provider. "We are now positioned as a "one-stop-shop" offering end-to-end solutions spanning consulting, technology architectures and business process management, including both IT and BPO services for global customers. We have already seen benefits like better control on operations, reduction of cost, better profitability, greater flexibility, stronger delivery capability and other related benefits due to size and scale. We will pass on the benefits to our customers adding to their competitive edge." said Rahul L. Kanodia, Vice Chairman and CEO.

"Customers are increasingly expecting offshore service providers to transform their businesses. Our solutions can help customers' businesses develop and launch platforms on which they can compete better. As a one-stop solutions provider, we are now better positioned to meet these requirements. In addition, we would see long-term advantages like wider range of solutions, broader market reach, cross-leveraging of skills, higher R&D focus and process efficiencies," added Kanodia.

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