Hitachi Systems to acquire Micro Clinic India

1st March 2014 | By Mouseworld Now Correspondent |

 

New Delhi, India, February 28, 2014: Hitachi Systems, Ltd., a wholly owned subsidiary of Hitachi, Ltd. and Micro Clinic India Pvt. Ltd., an IT services company based in India, have concluded a share purchase agreement and shareholders’ agreement to make way for Hitachi Systems to enter the lucrative Indian IT market.

Micro Clinic India Managing Director Tarun Seth

Micro Clinic India Managing Director Tarun Seth

As per the deal, Hitachi Systems will acquire approximately 76% of Micro Clinic shares. Post the acquisition; the company will be renamed as Hitachi Systems Micro Clinic Pvt. Ltd.  Hitachi Systems and Micro Clinic look forward to implement procedures to complete the share transfer by March end 2014.

As the Indian IT market expands, Japanese and other overseas companies are entering and investing in the Indian market to claim a share of the IT pie.

Hitachi sees India as an important region in its global strategy. The company has stepped up initiatives towards Hitachi Group’s Social Innovation Business in India. Hitachi aims to grow revenues in India by nearly 3 times to 300 billion yen by the fiscal year ending March 31, 2016, compared with the fiscal year ended March 31, 2012. In this context, Hitachi Systems, a core company of Hitachi’s Information & Telecommunication Systems Business, has been exploring ways to obtain an IT services business platform and expand business in India.

Micro Clinic is a leading IT services company in India, with 15 business sites in major cities and 150 satellite offices across India. Micro Clinic provides a broad range of IT services centered on the supply of IT platforms and maintenance services. It’s is also working to strengthen virtualization services, managed services and other services, to drive further business expansion.

Hitachi Systems President and CEO Naoya Takahashi 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. In doing so, we seek to contribute to the development of India’s economy, which continues to show remarkable growth.”

Micro Clinic India Managing Director Tarun Seth said,  “By combining Hitachi Systems’ advanced technological capabilities with Micro Clinic’s human resources and robust customer and heterogeneous product partner platforms, we hope to create new value and supply unique services that will support customers’ business innovation needs.”

Hitachi Systems and Micro Clinic will provide Indian enterprises, Japanese companies and other foreign-affiliated companies in India with one-stop services extending from procurement of IT equipment to systems design and, integration, operation and maintenance.

The Hitachi Systems Group is targeting consolidated revenues of 500 billion yen and an overseas sales ratio of 10% in fiscal 2015 under its medium-term management plan. The acquisition of Micro Clinic by Hitachi Systems will help strengthen and expand Hitachi Systems’ global operations and contribute towards meeting the growth target.

 

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