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Teledata close to $200mn buyout in S'pore

Rajesh S Kurup / Mumbai January 29, 2007

The Chennai-based software major, Teledata Informatics, is close to acquiring a systems integration company in Singapore under a deal valued at around $150-200 million. Separately, the company has also bagged a $40 million e-learning contract from Dubai Ports World.

�The companies are in the final stages of negotiations, with the price hovering around $150-200 million. If the talks fructify, the deal will be announced within the next two weeks,� a source close to the development said.

He, however, did not divulge the name of the company.

When contacted, Teledata Managing Director K Padmanabhan declined to comment, but added that the company was open to acquisitions and was in discussions with companies that would �strategically fit� with its future initiatives.

The Singaporean company is into systems integration and the acquisition will enable the Chennai-based company to tap the potential of this burgeoning space. Teledata Informatics business revolves around offering enterprise-wide solutions for marine, education and utility sectors, apart from providing e-learning training and solutions.

If the deal goes through, this would be the second Singaporean company that Teledata would be acquiring. Earlier on January 12, Teledata acquired a Singapore-based IT services company, Soltius Pte, through its Dubai subsidiary, Bitech International.

Soltius offers technology business solutions and services that focus across horizontals such as enterprise resource planning (ERP), business-to-business integration, mobile solutions, systems integration and product implementation, among others.

Meanwhile, the company has signed an e-learning solutions and applications agreement with Dubai Ports World (DPW), a port and shipping company owned by the Dubai government. Under the contract, which is valued at $40 million, Teledata will offer an e-learning and certification programme for ship superintendents of DPW and associated ports.

Teledata had earlier bagged similar deals from shipping majors such as Maersk group and Det Norske Veritas (DNV), while it was also closely working with Singapore Maritime Academy to train ship superintendents.

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Updated:20-11-09 19:05 hrs IST