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Our Bureau

Hyderabad , July 7

The Chennai-based Pathfinder Software Solutions, a Rs 75-crore technology solutions and products company, is scouting for strategic foreign partners who could pump in sizeable funds to scale up its operations in the domestic market and also enable it to aggressively expand into overseas markets.

The company's core competencies are in retail management, point of sale, barcode automation, and mobile solutions on PDA/hand held terminals, enterprise solutions and Web services. It has presence in India, the US, the UK, Qatar and Sri Lanka.

Addressing the media here on Friday, the Pathfinder Managing Director, Mr M. Ahmed Hussain, said the company expects to rope in strategic partners shortly. It is now negotiating with couple of leading investors in the US and the UK.

"We are planning to aggressively expand our activities into East Asian countries, Far East region, the UK and the US. We already have reasonable presence across the globe and are planning to further consolidate our operations," Mr Hussain said.

"This could be achieved through strategic local alliances in different countries," he said.

New centres

The company plans to expand its development centre located at Chennai with around 100 professionals. Having already set up its sales and support services centres at Chennai, Bangalore and Hyderabad, the company is now on the course to establishing similar facilities at Pune, Ahmedabad and Delhi. The new centres would be operational before the year-end, he said.

IPO likely

The company may tap the domestic and overseas capital markets with initial public offer (IPO) sometime in the next two years to raise funds for expansion and also to provide an exit route to the strategic foreign investors now being roped in, Mr Hussain said.

With seven major products in its portfolio, the company has been posting a year-on-year growth of 40-45 per cent so far. Following the expanded activities during the current fiscal, the company has projected a growth of over 60 per cent for the fiscal 2006-07 to attain a turnover of Rs 125 crore, he said.

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