Manthan Systems eyes North American SMBs
Manthan Systems, one of the leading providers of BI and analytical solutions for the retail industries is looking at acquiring companies in the BI retail space. The company has marked 46 small and medium companies and expects to close the deal shortly. Most of these companies are based in North America where in Manthan gets 65-70 percent of its business.
The Bangalore-based software company develops and markets a suite of software products and synergistic services to global retailers enabling them to take data-driven business decisions. The ARC suite comprises of products like merchandising analytics, finance analytics, customer analytics, supplier collaboration analytics.
"We are on the lookout for some time to acquire companies in the same business and also companies that have strong customer base will interest us. We are filtering these companies and so it may come down to more than one company," said Atul Jalan, MD & CEO of Manthan Systems. "Manthan’s board of directors has given the mandate to go ahead with the acquisitions," added Jalan
Recently Manthan secured series B funding from of upto $15 million from Fidelity International primarily for driving its retail analytics. When asked if this money would be utilized for acquisitions, Jalan said no but they may go in for further funding if required.
However, Jalan clarified that they were not looking at acquiring large companies amounting to $500 million of $1 billion but small/medium sized companies valued at $10 million to $15 million. Manthan despite the global recession claims they were unaffected and continued to 120 percent year-on -year for the last three years. "Our revenues last year amounted to $18 million," Jalan said.
The company has recently forayed into Latin American countries like Mexico, Brazil, Colombia, El Salvador etc besides Eastern Europe like the Baltic countries that has given them good growth.
"Even though 65-70 percent of our business comes from North American countries - USA and Canada, we expect the other markets like South East Asian markets like Philippines to pick up over the years," said Jalan.
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