TVS Infotech soon to finalise South African foray
By IANSFriday, September 10, 2010
CHENNAI - TVS Infotech Ltd, a software solutions company, expects to finalise its South African foray strategy by the end of this year, a company official said here.
“By December, we will decide whether to have a joint venture with a local partner or operate on our own in South Africa. We are also setting up an office in Dubai to serve members of Gulf Cooperation Council (GCC) nations like Saudi Arabia, the UAE, Oman,” Vinod Krishnan, managing director of TVS Infotech Ltd, told IANS.
According to him, venturing overseas is part of the derisking strategy - operating in diverse markets so that the company is not affected by slump in the domestic market.
“In Saudi Arabia, there are a lot of mid-sized engineering, construction and trading companies having legacy systems. We expect big growth from the Middle East market,” he said.
In the Indian market, TVS Infotech — an associate company of Sundram Fasteners — is focused on manufacturing (auto, sugar, engineering), trading, construction companies with a turnover between Rs.100 crore and Rs.1,000 crore.
