Tricom acquires Pacific Data Centers

Tricom India Limited (BSE code 531675 & NSE code TRICOM), a company specializing in non-voice Business Process Outsourcing (BPO) has announced the acquisition of Pacific Data Centers, Inc. (PDC), through its subsidiary Tricom Document Management, Inc. in USA.

“The purchase of Pacific Data Centers is another major acquisition and markedly increases business offerings in the non voice BPO sector,” said Chetan Kothari, Managing Director of Tricom India Ltd. “These acquisitions will enable Tricom to enhance the value chain across the verticals by offering a full suite of both onshore and offshore engagement models and widen its market presence. These acquisitions aim to provide a perfect platform to expand our service portfolio in other business domains paving way for earning higher revenues.”

Established in 1967, PDC utilizes the latest technological advances and state-of-the-art systems in creating a solid foundation to provide quality, efficient "virtual" administrative and management customer support.  Specializing in all aspects pertaining to administrative and management functions, PDC includes data entry, data conversion, imaging, OCR, medical billing, claims processing, printing, mailing, and lock box services among the offerings that make it one of the most comprehensive outsourcing service providers in USA.  Current customers include government agencies, hospitals, insurance companies, direct mailers, banks, aerospace companies, utilities and management organizations.  While PDC will become part of the larger Tricom group, it will retain its current name and identity for the foreseeable future.

Tricom has acquired 100% equity of PDC at USD 2.25 million. The new acquisition will enhance the capabilities of Tricom to address the needs of clients whose data cannot be sent offshore.

Michelle Burrell, PDC Vice President commented, “We are very pleased to have become part of the Tricom Group.  Their focus on the same line of business and technical and financial support provides a wonderful opportunity for us to strengthen our current operations.

Tricom also announced the completion of the acquisition of Godrej Global Solutions Ltd, which specializes in Healthcare Insurance, Form Processing, Data Capture and Data Conversion.

Annual Results

The company declared its annual results for the FY 07 08. On consolidated basis the company has achieved turnover of Rs 5124 Lakhs during the 12 months ended March 31st, 2008 as against Rs 3600 lakhs during the previous year ended March 31st, 2007, up by 42 per cent.

Tricom’s consolidated net profit after tax increased by 7 per cent to Rs 1583 lakhs for the 12 months ended March 31st, 2008 as compared to Rs 1485 lakhs during the year ended March 31st, 2007.

Dividend:

The Board of Directors has recommended dividend @ 23 per cent on the paid up equity capital of the company as compared to 21 per cent for the previous financial year.

Quarterly comparison

During the 4th quarter ended 31st March 2008, the company has achieved Turnover of Rs 1422 lakhs as against Rs 939 Lakhs during the previous quarter ended 31st March 2007. Tricom’s net profit after tax increased by 29 per cent to Rs 416 lakhs for the 4th quarter ended 31^st March 2008 as against Rs 323 Lakhs during the previous quarter ended 31st March 2007. 

Sourced From: Prana Public Relations