Phoebus merges with Vintec Electronic Systems

Two of the premier business partner firms for Hewlett Packard in Pune Phoebus Technologies and Vintech Electronic Systems have announced a merger to build a wide and strong business portfolio. The newly formed entity would be idetified as Vintec Electronic Systems and will have a headcount of more than 100 and revenues worth Rs 35 crore.

While Phoebus Technologies had built expertise in accounts management and customised solutions stream, Vinech Electronic Systems is into small and medium business segment.

The merger proposal signed and approved on April 1, would help the newly formed company deliver a better array of solutions and services to Hewlett Packard clients.

Speaking to Business Standard, Phoebus Technologies CEO Chandan Joshi said, "Both the companies have been working as business partners of HP. While Vintech handles smaller clients in a wide range of business segment, Phoebus deals only with bigger clients. and has expertise in accounts management. The merger would help us serve more clients and hence the decision to merge came about."

Vintech has posted a turnover of around Rs 12 crore while the same in case of Phoebus is Rs 11 crore during the last financial year, Joshi added.