Bartronics bets big on leisure

Leveraging its Southeast Asian and US operations, Bartronics India, a Hyderabad-based provider of automatic identification & data capture (AIDC) and radio frequency identification (RFID) solutions provider, is evaluating opportunities in the leisure and entertainment verticals in these markets.

Through its overseas subsidiaries, Bartronics Asia Pte Ltd and Bartronics America Inc, the company is currently in talks with Disney Land and the Formula One headquarters in the US for providing cash-less transaction solutions across the globe.

It is also holding a meet with the Singapore government to provide services related to security, cash-less transaction system for Formula 1 circuits and casinos, automated toll collection for MRTS public transportation and foolproof identification and authentication systems to check cyber crime. The Singapore government had earmarked a budget of $4.1 billion for IT in this calendar year.

"We expect the talks to reach fruition soon and garner Rs 100 crore each from our overseas subsidiaries in the next 12 months," Sudheer Rao, managing director and CEO of Bartronics, told Business Standard.

He said the company was looking closely at the European markets and might acquire an European company, similar to the one in the US for over $50 million (around Rs 200 crore).

"We are scouting for a company that is engaged in the RFID technology and smartcard solutions, and expect to wrap up the deal by the end of this year," he said, adding that the zero-debt company was weighing various options including debt, equity or an FCCB issue to fund the acquisition.