Tekplay Systems Ltd., an IT services company which helped The India Cements and other firms to go digital, is planning to raise $5 million and set up two development centres.
“Currently, we are in talks with private equity investors in the U.S. to raise $5 million,” said Prabhuram Ramanathan, executive director, Tekplay Systems.
“We are in the process of setting up development centres in San Jose and Bengaluru,” he said.
Tekplay is also in the process of acquiring a company in Singapore and the details would be announced soon, he said.
The Chennai-based digital business transformation company works with Fortune 500 companies to unlock the full potential of digital technology. The services offered by the firm include digital technology consulting, enterprise solutions, business analytics and digital workforce solutions.
Over the next two years, Tekplay expects its revenue to grow five-fold from $20 million to $100 million and employee strength from 400 to 1,000-2,000. “Digital transformation is the next big thing in the IT industry, with the market expected to double in the near future,” Mr. Ramanathan said. “We plan to grab a higher market share both through organic and inorganic expansion. “We have nearly 40 clients including India Cements, CSK, Google, Union Bank of India, Cisco, Indian Railways and Ministry of Finance,” according to Mr. Ramanathan.
On Saturday, N. Srinivasan, VCvice chairman and MD, India Cements unveiled the Tekplay brand and said: “In the early 90’s, we developed an in-house ERP with Coromandel Infotech India Ltd. (C2il). Our association with C2il began in early 2000 and since then they have been maintaining our entire IT infrastructure. Tekplay will be taking over the business vertical of C2il.”