Redington (India), country?s leading distributor of electronics and computer-related products, pheripherals and a supply chain solutions provider, is scouting for acquisitions in Africa and West Asia. This will help the company to become a global distributing major.
Sources pointed out that the company has zeroed in on a Turkish-based company Arena Bilgisayar. Istanbul-based Arena Bilgisayar is a listed entity promoted by Izi Kohen, Mehmet Betil and Alvi Mazon, who together hold major shareholding in the company. Redington India CFO SV Krishnan said, ?We are looking at companies which are in similar activities in the African, West Asian regions to expand our business and we hope to finalise the same soon.”
On Arena Bilgisayar, he said, ?We are talking to quite a few companies in these regions and we may acquire at least two companies going forward. Africa, Middle East regions throw huge opportunities for Redington and some of these geographies on our radar for quite sometime.?
?We have raised around $98 million from Investcorp way back in 2008 and the same will be utilised for acquisitions,? he said. These markets offer good opportunities to spend and enable us to improve our business manifold. ?We cannot quantify what kind of value these acquisitions will add to our overall business at this point of time,? he maintained.
It may be recalled that Investcorp, an asset management firm and Redington Gulf, the leading distributor and service provider of IT and telecom products in the Middle East and Africa, have entered into an agreement in October 2008 wherein the latter will make a $98m investment in Redington Gulf and become a significant minority shareholder of the company.