Press release from Business Wire India
Source: R Systems International Limited
Thursday, January 27, 2011 02:30 PM IST (09:00 AM GMT)
Editors: General: Consumer interest, Economy, People; Business: Advertising, PR & marketing, Business services, Financial Analyst, Information technology, Retailers, Stock exchanges; Technology
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R Systems Announces Acquisition of Computaris International Limited
R Systems Goes Deeper into Telecom
Noida, Uttar Pradesh, India, Thursday, January 27, 2011 -- (Business Wire India) -- R Systems International Limited (NSE: RSYSTEMS), one of the leading providers of outsourced product development, technical and customer support services, today announced that it has completed the acquisition of 100% shares of Computaris International Limited, a U.K. based Software Company engaged in the telecom sector.
R Systems will pay an amount of GBP 9 million consisting of an initial payment of GBP 4.25 million and the balance amount over two years linked to performance. The acquisition is funded largely from internal accruals.
Computaris International Limited having their operations in U.K., Romania, Poland, Moldova, Malaysia and U.S.A. Computaris provides solutions and services to Telecom Industry and specialises in real-time rating and billing solutions.
Rekhi Singh, Chairman and Founder of R Systems, said "I am delighted that R Systems is able to make a significant expansion of its European operations through a strong new presence simultaneously addressing the strategic important geographical Europe market and Telecom vertical through its operations in UK, Poland and Romania in the EU and Republic of Moldova in CIS." He added "The excellent management team and professional staff of Computaris will allow R Systems to grow significantly in the telecom sector, a strategic focus for us." With the acquisition of Computaris, (with unaudited Calendar Year 2010's revenue approximately GBP 9 million for Calendar Year 2010) the R Systems' business in the telecom vertical would be in excess of 25% of its total revenues. This acquisition matches global trends, where the telecom vertical has amongst the largest Global IT spends. Executive Manager Sartaj Rekhi added, "The acquisition of Computaris is a further step to organise our business along industry verticals and customer focus around Key accounts and Geographies."
Ian Tidder, CEO of Computaris International Limited, said "My whole management team and I are excited that we can continue the growth path that we have been following to date at an accelerated pace following the strategic investment of R Systems. In addition to the expansion of our European operations, we intend to continue to grow our Asian and USA operations and widen the range of services and the value that we can offer to our customers".
About R Systems International Limited
R Systems International Limited founded in 1993, is one of the leading provider of outsourced product development and customer support services. We help companies to accelerate the speed to market for their products and services with a high degree of time and cost predictability by using our proprietary pSuite execution framework. We help companies build scalable, configurable and secure products and applications; and help our clients support their customers for products and services using our global delivery model. R Systems rapidly growing customer list includes a variety of Fortune 1000, government and mid-sized organizations across a wide range of industry verticals including Banking and Finance, High Technology and Independent Software Vendors, Government, HealthCare, Telecom, Manufacturing and Logistic Industries. R Systems maintains eight development and technical support centres and using our global delivery model we serve customers in the US, Europe, South America, the Far East, the Middle East and Africa.
About Computaris International Limited
Computaris International Limited is a System Integrator providing software products and solutions as well as being a services company, it is focused on the provision of convergent and real- time rating, charging and billing solutions as well as messaging solutions to network operators, especially mobile, worldwide. The ability to combine high level IT and Real-Time Telephony skills enables Computaris to provide a range of solutions and products that ensure that they are the provider of choice for many large corporations.
Computaris specializes in system integration, BSS technical consulting and software development for software vendors and communication services providers (CSP) in Europe, Middle East, Africa and SE Asia.
Safe Harbor:
This press release contains forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT and consulting services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology and consulting services, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. We may, from time to time, make additional written and oral forward-looking statements, and we do not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company.
To view the photographs, please click on the links given below:
Mr. Rekhi Singh, CMD R Systems/.
Mr. Ian Tidder, CEO Computaris.
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CONTACT DETAILS
Shankar Seetharaman, R Systems International Limited, +91 ( 20) 22952520, Shankar.Seetharaman@rsystems.com
KEYWORDS
CONSUMER, ECONOMY, PEOPLE, MARKETING, BUSINESS SERVICES, Financial Analyst, IT, RETAIL, STOCK EXCHANGES, TECHNOLOGY
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