The Hindu Business Line : R Systems investment in Aisel Corporation gets board approval

R Systems International Ltd has on Wednesday announced that the company's Board of Directors has approved its investment in equity shares of Tokyo based, Aisel Corporation. The board has approved allotment of 4,10,000 equity shares each at the price of Rs 250 per share that would be subject to the approval of the shareholders of Aisel Corporation as per the agreement entered into between the two companies. It had also granted allotment of 24,390 equity shares each at the price of Rs 105 per share for the employees of the company and its subsidiaries to exercise stock options as per the 2004 plan.

Further, it had also got a go ahead for allotting 22,800 equity shares at the price of Rs 65 per share for the employees of its subsidiary company ECnet Ltd, who were a part of 2004 employee stock option plan.

Mr Nand Sardana, VP, Finance, R systems International, said: "Our investment up to $ 1 million in Cisco Solutions is a part of our strategy to move our existing infrastructure for BPOs from a mix of different vendors to Cisco."

Commenting on the reason for opening a branch office in Belgium, he said that in the last quarter about 10 per cent of the company's revenues were from Europe and the revenues were expected to grow faster from Europe in comparison to some of the other regions.

R Systems had also bagged a deal from one of the European companies, which had asked it to deploy some of its engineers to provide support on a full time basis, he added.

However, it was also a part of its decision to expand in the European markets.

Currently, about 73 per cent of the company's revenues are from the US, 9 per cent from South East Asia, 10 per cent from Europe and about 3-4 per cent from India.

More Stories on : Venture Capital | ESOPs | Software

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
AMFI to issue unique identification number

Bulls prevail

Momentum continues thanks to firm Asian bourses

R Systems investment in Aisel Corporation gets board approval