by April 16, 2014 0 comments

Hitachi Systems has marked its entry in the Indian market by acquiring a controlling stake of 76 percent in Delhi-based systems integrator Micro Clinic India in a step to bolster its IT services business in India.Hitachi is expected to pay Micro Clinic promoter close to Rs 55-60 crore for a 76 percent stake.

Micro Clinic will be renamed as Hitachi Systems Micro Clinic Private Limited. Tarun Seth, the sole promoter of Micro Clinic, who has retained his 24 percent stake, will continue leading the company post-merger as its Managing Director.

Micro Clinic has a total of 650 employees across 15 branches and posted a topline of Rs 76.9 crore in FY2012-13. According to Seth, the company is expected to close the current fiscal at Rs 150 crore, almost a 100 percent growth over the previous fiscal.

In a press statement, Naoya Takahashi, President and CEO, Hitachi Systems, said, “I am extremely pleased to welcome Micro Clinic into the Hitachi Systems Group. We will expand innovative IT services to all of India-services that will fuse Micro Clinic’s business sites, and its abundant personnel, technologies and know-how, with Hitachi Systems’ virtualization and cloud services, managed services such as data center monitoring and operations, and security services.”

Hitachi, in the press statement, also said that it sees India as an important region in its global strategy and is stepping up development of its social innovation business in India and as a part of this it is bolstering Hitachi Systems’ presence in the Indian market. Hitachi further said that this was an important step in achieving its target of tripling its overall India revenues from $1 billion in FY2011-12 to $3 billion by FY2015-16.

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