By Dhaval Valia
Surat-based networking solutions provider, Geo Integrators, has merged with Transit Systems Integrations, a company specializing in security surveillance and safety solutions.
The merged entity will be called Transit Geo Systems Integrators, and will have a combined turnover of Rs 36 crore—the Rs 12 crore turnover of Geo and Transit’s topline of Rs 24 crore—for the fiscal year ended 2009-10.
“Looking toward mutual growth, we decided to merge from April 1, 2010. Technically it’s a joint venture between the two companies because the individual companies will operate for the next six months till the time all the modalities of dissolving them are completed. We have already started billing new customers under the JV,” said Rajesh Mehta, CEO, Geo Integrators, and Director of the JV.
The merger enhances the branch presence of the JV company and its skill set. “Our total manpower strength adds up to 205, with a branch presence in Rajkot, Vapi, Surat, Mumbai and Ahmedabad. With our combined expertise and product portfolio, the JV is well-poised to provide an entire range of security and network integration solutions,” added Mehta.
Speaking about the JV, the CEO of Transit Systems Integration, Dipesh Dasadia, said, “Over the past 3-4 years Geo and Transit have worked together on some large projects where we provided the security surveillance while they provided the networking and data security solutions. That became the basis of our objective to merge. Also, the overlap in our customer base is only 5 percent, which opens up huge potential for cross-selling and growth.”
The company has hired an HR consultant to help with the integration process. “We are aware that for the merger to work the integration of employees and organizational cultures is key, hence we have hired an HR consultant to help us with the process of integrating the teams and cultures,” explained Mehta.
With the JV, Transit Geo is looking at exponential growth and targeting a turnover of Rs 60 crore in the current fiscal. “Our 3-year roadmap is to achieve a turnover of Rs 100 crore with a pan-India presence, and explore the IPO option by 2013,” revealed Dasadia. |