Hitachi Systems, a wholly owned subsidiary of Hitachi and Micro Clinic India, an IT services company based in the Republic of India, announced that they have concluded a share purchase agreement and shareholders’ agreement to bolster the IT services business in India.
Specifically, Hitachi Systems will acquire approximately 76% of Micro Clinic shares and rename the company as Hitachi Systems Micro Clinic. Looking ahead, Hitachi Systems and Micro Clinic will implement procedures aimed at completing the share transfer by the end of March 2014.
Hitachi sees India as an important region in its global strategy and is stepping up development of the Hitachi Group’s Social Innovation Business in the country. Hitachi aims to grow revenues in India by nearly 3 times to 300bn yen by the fiscal year ending March 31, 2016, compared with the fiscal year ended March 31, 2012.
In this context, Hitachi Systems, a core company of Hitachi’s Information and Telecommunication Systems Business, has been exploring ways to obtain an IT services business platform and expand business in India, where rapid economic growth is under way.
Micro Clinic is working to strengthen virtualization services, managed services and other services, with the aim of driving further business expansion.
Against this backdrop, Hitachi Systems and Micro Clinic have agreed that Hitachi Systems shall convert Micro Clinic into a Group company.
Naoya Takahashi, president and CEO, Hitachi Systems said “I am extremely pleased to welcome Micro Clinic into the Hitachi Systems Group. We will expand innovative IT services to all of India-services that will fuse Micro Clinic’s business sites, and its abundant personnel, technologies and know-how, with Hitachi Systems’ virtualization and cloud services; managed services such as data center monitoring and operations; and security services. In doing so, we seek to contribute to the development of India’s economy, which continues to show remarkable growth.”
“I am delighted that by this strategic acquisition, we have advanced the original vision of the company and redefined the IT Services landscape. Micro Clinic will be obtaining an expansive range of opportunities to provide outstanding services in India as well as the rest of the world,” said Tarun Seth, MD, Micro Clinic India.
Hitachi Systems and Micro Clinic will provide Indian enterprises, Japanese companies and other foreign-affiliated companies in India with one-stop services extending from procurement of IT equipment to systems design and, integration, operation and maintenance.