Geodesic finalises takeover of PicoPeta

Geodesic Information Systems has signed a share purchase agreement (SPA) with shareholders of Pico Peta Simputers, Bangalore to take over 100 per cent holding in PicoPeta Simputers.

The company, in a release, said that the consideration will be paid in the form of cash and equity shares of company to shareholders of Pico Peta Simputers.

The company has scheduled an extra-ordinary general-body meeting on December 12 to take approval from shareholders and also to approve preferential issue of equity share.

Recently, the board of directors of Geodesic at their meeting held on November 24, had decided to take over 100 per cent of Pico Peta Simputers, Bangalore as a part of the business strategy.

Further, the Geodesic also had consented to invest into securities of or acquire strategic stake in or take over various technology companies which possess innovative ideas that can be integrated with the companies' existing technology and suite of products.

PicoPeta was founded and was managed by the co-inventors of the Simputer who are also scientists at the Indian Institute of Science. They started this firm with a shared common vision built around the Simputer to make computing affordable and accessible to developing countries that face barriers of price, language, and literacy.

PicoPeta Simputers provides hardware, design and software solutions based on the powerful and affordable Simputer platform and is marketed under the brand name 'Amida Simputer'.

Amida Simputers is being manufactured at Bharat Electronics and sold as a BEL-PicoPeta product in India and abroad.

PicoPeta also had the resources and expertise to build software solutions on the Simputer platform.