The Economic Times:
July 15 2002.

Eonour has acquired 100% of 4 domestic technology companies viz. System Telecom and Data Services Pvt Limited, Linux Solutions Private Limited, Web Net Technologies Private Limited, I Trigger Technologies Limited, all in the field of software solutions and system integration, by stock swap valued at Rs 22.46 crores, Rs.4.5 crores, Rs.5.1 crores, Rs.7.9 Crores respectively totaling to Rs39.96 Crores at a price of Rs11 per share.

The total deal valued at Rs39.96 crores has been structured on a stock swap at Rs 11 per share conforming to SEBI pricing formula.

By these acquisitions, eonour has acquired into system integration expertise in the domestic market. Eonour will have access to blue chip clientele of the acquired companies across industry segments ranging from financial institutions, shipping companies, Major corporates and many more.

To name a few, Indian Bank, ICICI Bank, SBI, TI group, British Airways, Jet Airways, United Airways, Berger Paints, IOC, Balmer and Lawrie, GE Shipping, HLL, TTK LIG, Schlumberger, Shasun Chemical, SRF Ltd, Cairn Energy, CMC, Emery World Wide, Larsen and Toubro, Maersk Shipping, SAFExpress, Stock holding Corporation, TCS, WTI advanced Technology Ltd, Corporation Bank, Dena Bank, IOB, KVB, Karnataka Bank, PNB, SBI, The Nedungadi Bank, British Airways, Cathay Pacific Airways, Emirates Airlines, Indian Airlines, Lufthansa Airlines, GRT Hotels, Le Royal Meridian, Anna University, Integral Coach Factory.

Currently, eonour is focusing on SCM solutions. By virtue of these acquisitions, eonour will now provide end-to-end solutions for the customers ranging from network consultancy, design, voice, data communication, System Integration and Software Solutions.

With these acquisitions, Eonour has increased its range of products it offers. Some of the core products are Hotel Management Software - This takes care of the operations of a hotel including stores and inventory, Diag soft - Diagsoft is a comprehensive software solution for Hospitals. , Synergy Plus - Synergy is Customer Relationship Management software with comprehensive reports. , Creative Analyst - G DATA - This tool simplifies the process by giving the region specific data instantaneously by a geographical viewing platform by which it transforms lifeless numbers to an easy to understand and easy to use visual data.,PIC - Production and Inventory control. - PIC will automate the purchase and inventory control of a manufacturing company.

These acquired products add further strength to the product range of eonour.

Currently eonour plans to use the acquired offices (4 across the country) and the development centers in Pondicherry (3) and in Chennai (1) to strengthen its domestic base.

The dependence of Indian IT firms has been largely been the US markets; the slow-down over there impacted India's exports and very largely the industry in itself. The potential in the Indian market is huge; the market is growing at 45% and there is a distinct shift in corporate spending with software taking centre stage. This market was largely untapped due to the US attraction. Now with the market slow down, the domestic is gaining attention. These acquisitions help eonour consolidate its position more firmly in the domestic market in the field of software solution and system integration.

Eonour expects to add an additional Rs 60 crore of domestic business to its kitty. With these acquisitions, eonour's current order book will stand at Rs 129 Crores.

These acquisitions are a part of Eonour's ongoing acquisition strategy for the current year. Eonour feels that this is the best time to consolidate and grow to combat the worldwide recession through
M & A.

The company is in advance stage of negotiating takeover of 2 overseas companies and the deal is expected to be closed over the next quarter.

The company has planned an aggressive inorganic growth strategy in the coming months through acquisitions of domestic and overseas technology companies.