Ricoh India on Friday announced the acquisition of Noida-based Momentum Infocare Pvt Ltd, marking the foray of printing and imaging solutions firm into information technology (IT) sector.
The company is looking for more such acquisitions to strengthen its presence in the Indian market.
“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 IT space has brought about major changes in the working of any organisation. We have completely aligned with this transformation, hence this acquisition,” said Tetsuya Takano, Managing Director and CEO of Ricoh India, a subsidiary of Japan's Ricoh Company.
“We have been making rapid strides in offering advanced solutions by acquiring the skill set and technological knowledge that help our clients to deliver better results. We envisage over 25 per cent of our new businesses coming from such synergies…the markets of Ricoh U.S. and Europe have also grown phenomenally primarily because of such initiatives,” Mr. Takano said.
Stating that with the acquisition of the Momentum Infocare, its headcount would increase by 100 to reach 860, Mr. Takano said: “With the taking over of the IT company, our vision is to offer package of IT services to clients that would bring efficiencies in work, reduce cost and bring complete turnaround in the corking of company. Positioned as a one-stop-solution company, Ricoh will now be offering value-added services to further optimise processes. We can offer our unique solutions to our partners in India as well as abroad.”
Pointing out that Ricoh India has earmarked Rs.60 crore for acquisition in the current fiscal, Mr. Takano further said: “Our printing business is doing very well…we are now focusing towards new businesses like IT services, managed document services and production printing to expand our portfolio in India. All this will help to provide complete solutions to our clients and also strengthen our leadership position in the Indian market.”
