Teledata Informatics plans split

Chennai-based e-governance and shipping software solutions company Teledata Informatics plans to split into software and marine businesses with Teledata Informatics functioning as the holding company.

"With the recent acquisitions of the shipping firm Picnic Marine Corporation and software company Vanguard Technologies, Teledata has extended its presence to both software and shipping sectors. As the companies are still functioning under one banner, a spilt is necessary to provide each one with a separate identity," said sources close to the development said.

The Teledata Informatics board will meet on December 28 to consider the division. After that, the company will seek shareholders' approval.

When contacted a company spokesperson declined to provide further details.

Teledata has recently acquired a controlling stake in Thailand-based shipping company, Picnic Marine Company Ltd (PMCL), a wholly owned subsidiary of Pinic Corporation and US-based Vanguard Technologies for an undisclosed sum.

Pinic Marine is a major player in ferrying of gas cylinders in Thailand and operates over 22 gas carriers, while Vanguard specialises in offering SAP, mySAP and e-commerce solutions' consultancy services and has offshore development centres (ODC) in Bangalore and Ahmedabad.

Prior to these acquisitions, Teledata had acquired Daan Consulting of US and Netsol Technologies Company of Thailand, both IT consultant and services firms.

The acquisition would enable the company to meet certain key project deadlines, implementation of Enterprise Resource Planning (ERP) solution, or applying complex technologies to deliver high-valued business services.