Ricoh India Limited announces its first business acquisition in the IT sector
*Ricoh India and Momentum Infocare team up to offer comprehensive IT Services to
May 13, 2011, New Delhi – Close on the heels of achieving manifold expansion by offering comprehensive office
solutions, new products to enhance customer satisfaction, Ricoh India Limited, a
subsidiary of Ricoh Company, Limited, Japan, a US$ 23.4 billion global giant and
a leader in the field of Imaging Solutions today announced that they acquire Momentum
Infocare Private Limited. This is Ricoh India’s first business acquisition in the
Information Technology sector. The business acquisition will entail that Ricoh India
will acquire the competency knowledge and skills of Momentum Infocare, a Noida-based
IT Company with about 100 employees and the last reported annual revenue of Rs.311
Million to offer a comprehensive range of IT enabled services.
Mr. Tetsuya Takano, Managing Director and Chief Executive Officer, Ricoh India Limited
remarked, "With the changing business environment, customers are looking for products
and services that offer quality, increase efficiencies, and have short turnaround
time with prompt after-sales service. The fast-changing Information technology has
brought about drastic changes in the working of any organization. Ricoh has completely
aligned itself with this transformation. As part of our global mandate and strategy,
Ricoh has been making rapid strides in offering advanced solutions by acquiring
the skill set and technological knowledge that help our clients to deliver better
results. Ricoh envisages over 25% of our new businesses coming from such synergies.
The markets for Ricoh US and Europe have also grown phenomenally primarily because
of such initiatives”. Detailing further, Mr. Takano said, "Ricoh India’s business
acquisition with Momentum Infocare will be significant in nature. In Momentum Infocare
we have found complete synergy which will help us cater to our clients better. Momentum
Infocare has been registering a very healthy growth over the past years. With this
alignment, Ricoh’s vision is to offer package of IT services to clients that would
bring efficiencies in work, reduce cost and bring a complete turnaround in the working
of the company. Positioned as a One-stop-Solution company, Ricoh will now be offering
value-added services to further optimize processes. We hope to tap a sizable business
from such alignment”.
Mr.Gurprit Singh, Director, Momentum Infocare remarked, "We think that now is the
right time to join forces with Ricoh India Limited, because there is a huge opportunity
to leverage each other's strengths and achieve our long term vision of becoming
leading system integrators in the country, delivering happiness to customers, employees,
and vendors. Ricoh’s presence across the country and strong leadership team would
ensure that together we are able to achieve this much faster”.
About Ricoh India Limited
Ricoh India Limited is a 73.6% owned subsidiary of Ricoh Company, Limited, Japan.
The company is a leading player in the area of Imaging Solutions. All Ricoh products
come with a hallmark of quality, technological excellence and after-sales service.
Ricoh India operates through a wide network of 15 branches and over 260 dealers
and have well-trained sales and after sales service force. The company is planning
to be a major player in the areas of Managed Document Solutions, IT Services, Transaction
Printing, Production Printing and Laser Printers
About Momentum Infocare Private Limited
Momentum Infocare Private Limited is an ISO 9001:2008 certified organization providing
technology solutions since 1999. Momentum is recognized in the market for the ability
to timely deliver complex system integration projects, as a team with deep understanding
of technology and business needs, and an organization working with customer to ensure
highest level of customer satisfaction by mechanism of continuous feedback and focus
on continuous improvement in quality systems. This Noida-based IT Company with the
last reported annual revenue of Rs.311 Million employs about 100 employees. The
company is a team of committed and competent workforce serving 200+ clients on a
24/7/365 basis with strong relationships with major IT vendors, they have recently
made forays into Cloud Computing Services in the areas of Remote Infrastructure
Management & Remote.