Gemini reports 52% jump in net

Net revenue for the year increased by 47 per cent to Rs 236 crore against Rs 161 crore in the previous financial year. 

Commenting on the performance of the company, Vijay Kumar, chairman & managing director of the company said "We continue to maintain our growth momentum as we enter 2009 growing at more than 50 per cent year on year".

 

Order book position currently stands at Rs 250 crore, an amount roughly equal to 2007-08 topline, a release from the company said

Gemini Communication is planning to acquire a "security and storage" service provider in Chennai.  

While the target company's name is not known yet, sources close to the development said that it would be a $10-12 million revenue company with a workforce of 200.  

The target company's business is currently only from domestic companies, but Gemini Communication expected to access overseas clients overseas after completing the acquisition.

While the acquirer already has some interest in the security and storage business, this deal is expected to make it the third largest player in that space. 

Security and storage services essentially allows clients to secure their valuable and competitive data while enabling legitimate users to access information at a click of a button.

"The idea is to make private data stored in digital form, completely hack-proof," said a source involved in the deal.