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Nelito Systems to expand global footprint, eyes Rs 200 crore by 2020 Updated On : 11 May 2017 | Source :The New Indian Express
Banking and financial services firm Nelito Systems Ltd has chalked out plans to expand its global footprint, besides setting up an ambitious revenue target of Rs 200 crore in next two years. The move comes after Nelito, the Tata Group firm, sold stake to Japanese IT services firm DTS Corporation. Following the acquisition, Nelito and DTS are now eyeing the US market, particularly, the banking and financial services firms, large Japanese originated companies with presence in the US and south east Asian and African markets.
"We are focusing on the US and Singapore markets to become a prominent service provider with our financial technology products and services to the global BFS industry," said Punit Jain, CEO, Nelito Systems Ltd.
"One of the key strategic objectives of DTS with this investment is to expand its global business, particularly in the US and SE Asian countries," said Minoru Takeuchi of DTS. It may be noted that DTS Corporation acquired 44.5 per cent stake in Nelito Systems, where the two subsidiaries of Tata Power – Nelco and Af-Taab Investment Company Ltd and Sunnynook Ltd (AG Capital) – offered 9.95 per cent, 12.30 per cent, and 22.25 per cent stakes, respectively, from their equity holding in Nelito Systems to DTS.
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