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| eRevMax eyes acquisitions |
| BS Reporter / Kolkata Jul 01, 2009, 00:57 IST |
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Budget for plans Rs 40-120cr.
Information technology (IT) product company, eRevMax, is looking at four more acquisitions in the next two years to increase its client base and to expand in geographies where it is not present currently.
At a press conference in Kolkata today, Reuel Ghosh, founder and CEO of eRevMax, said, “We have drawn up a budget of Rs 40-120 crore to fund the acquisitions. We will also urge private equity investors to participate.” “Inorganic growth will help us reach markets where we are not present currently. Also, it will help us expand our client base without any upfront marketing investment,” Ghosh added.
The company also intends to double its turnover in the next two years, from Rs 50-100 crore right now. Among other plans, eRevMax intends to open sales offices in South India soon. It has already opened a six-people sales office in Gurgaon, Ghosh said.
eRevMax recently acquired Simple Distribution from Egypt-based Rate Reports, an online channel management company, for an undisclosed amount.
“It was a privately negotiated deal and therefore cannot disclose the amount invested in acquiring the company,” Ghosh said.
For the past three years the web-based application, Simple Distribution, has been providing smaller hotels with benchmarking, channel management and booking engine functionalities primarily for the Asian and African markets. eRevMax now plans to expand the reach of the distribution management product - Simple Distribution – into Europe and America tailored to small, independent hotels with 40 rooms or less starting from €750 per year.
The Simple Distribution solutions will remain independent and will supplement eRevMax’s current Rate Tiger product offering.
As internet sales of hotel rooms has significantly increased in the last five years, smaller hoteliers now need to make themselves familiar with the opportunities available online.
Simple Distribution offers such businesses an affordable and easy-to-use solution to manage internet channels efficiently by allowing central management of rates and rooms available online, Ghosh explained.
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