SRM Systems to acquire Radiant Software

By P. Narasimhan

CHENNAI, MAY 30. SRM Systems and Software (SRMSS), the IT arm of SRM group, is all set to acquire Radiant Software, an IT training company.

Mr. T. R. P. Sathyanarayanan, Managing Director, SRM Systems and Software P. Ltd., and Mr. S. Giridharan Managing Director, Radiant Software, told The Hindu that both companies have `in principle' approved this merger scheme.

SRM Infotech, the training arm of SRM Software and Systems, and a Rs. 18 crore company of the SRM group, is acquiring Radiant Software. The combined entity would be named SRM Radiant Infotech Ltd.

Mr. Sathyanarayanan said ``We are poised to take on the best in the industry with this merger and the vision is to become the leader in the IT education segment."

Mr. Giridharan said ``The merged entity will position itself as a strong IT training company nationwide providing a wide range of job oriented education and will strive for leadership in the industry."

SRM Infotech focusses on offering cutting edge technology courses to graduates, software professionals and corporate clients. The company, apart from imparting high-end IT training , also focusses on offshore software development for clients in Japan and the U.S.

SRM Infotech has been working towards becoming a concept-based training institution to offer high-end cutting edge technologies to direct customers and entry and middle level technologies through alliances and other contractual methods to attain substantive growth. In addition to its domestic training activities, it has successfully penetrated Mauritius, Malaysian and Sri Lankan markets.

The SRM group, with an asset base of more than $150 million, has been providing high quality services, particularly in education from pre-school to master levels. The group has interests in engineering, healthcare, hospitality, manufacturing, financial services, construction, transportation and education.

The transaction was structured by Ernst & Young which has been retained by the SRM group for advising them on merger/acquisition opportunities in software services, IT training and education.

The Rs. 25 crore Radiant Software is focussing on high-end short term courses. With the aid of venture capitalists, the company expanded its training operations and currently has around 60 training centres across the South and West of the country and has a presence in several South and Southeast Asian economies. Radiant has trained over 50,000 students since inception in 1997.

SRM and Radiant will derive the strength out of the synergy and grow aggressively to capture the leadership in training. The merged company plans to aggressively expand to have a national and international presence in training.

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