Teledata Info buys Thai shipping firm

The Chennai-based Teledata Informatics, an e-governance and shipping software solutions company, is set to acquire Thailand-based shipping firm Picnic Marine Corporation.

A memorandum of understanding is likely to be signed in Bangkok next week. The deal size, however, could not be ascertained.

"Picnic Marine is a major player in carrying gas cylinders in Thailand. The company operates over 22 gas carriers. Negotiations for signing the deal for acquisition is in advanced stages," sources close to the development said. They, however, declined to divulge the deal size, adding that "the amount would be substantial."

A company spokesperson said the acquisition would be made public after meeting the regulatory procedure, including informing stock exchanges. According to shipping industry analysts, the estimated average cost of a medium-range gas carrier is estimated to be at $40 million.

Going by this, the acquisition cost of 22 vessels could be around Rs 4,000 crore. Teledata will, however, have fork out less depending on the liability of Thai company.

Teledata is a front runner in providing ERP solutions to the marine and utilities verticals. Ship Manager, the flagship product, is being used by over 1,000 ships world wide to streamline their operations and management.

The acquisition of Picnic would provide Teledata an edge in shipping operations, experts said. Teledata, which has been growing through inorganic expansion, expects this acquisition to help it achieve a tremendous growth in the next two year period.

In a parallel move, Teledata Informatics today acquired US-based Vanguard Technologies for an undisclosed amount. Teledata had earlier set aside Rs 180 crore to acquire three US-based companies in the current financial year.

Vanguard, which specialises in offering SAP, mySAP and e-commerce solutions' consultancy services, has offshore development centres (ODC) in Bangalore and Ahmedabad.

Vanguard operates from Cranbury, New Jersery, and Mississauga and Ontario, in Canada, and Vanguard specialises in providing services to retail , manufacturing, healthcare, pharmaceuticals, textiles and oil & gas industries among others.