Technology infrastructure management services provider Glodyne Technoserve recently acquired Comat Technologies. In an exclusive interview with Moneycontrol.com's Chikita Kukreja, its chairman and managing director Annand Sarnaaik talks about the deal and the road ahead for the company.
Here are experts from his interview on Moneycontrol.com. Also watch the accompanying video. Q: What was the rationale behind the Comat Technologies' acquisition? A: Glodyne has been working in the e-governance space and taking initiatives in a lot of socially- driven programmes. Fortunately, working predominantly in the similar space, we have good deep domain knowledge in the sector. In fact, in one of the largest state like Karnataka, we have done public distribution system work to enable more than a million families.This acquisition was a two-pronged strategy. One was backward integration which helps to execute lot of large programmes which are already in the execution pipeline. And, also on the frontend, we would be able to ride on our financial inclusion strategy on our exiting contracts like UID-based kind of programmes. Q: So how vast do you think e-governance market is? A: When we started some three years back working in NAREGA, their disbursement mechanism was just Rs 10,000 crore. Today, in two-and-a-half to three years, the government has increased to more than Rs 40,000 crore of disbursement only in one programme called NAREGA and the public distribution system and various other social-driven programmes. Also, there are some noble programmes like labour management system which is one of its kind in India, which is involved in creating a new budgeting system for this particular sector. Q: This deal with Comat Technologies, it
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