Prasad Mamidanna buys into Neoteric's Singapore subsidiary

Mumbai-based distribution major, Neoteric Infomatique is learnt to have sold
50% stake in its Singapore-based subsidiary-Neoteric Asia Pte Ltd (NAPL) to
Prasad Mamidana who earlier this year bid goodbye to Ingram Micro.

NAPL was established by Neoteric's boss Paras Shah as a wholly owned
subsidiary of Neoteric India. Now this deal means that his stake comes down to
50%. It is further understood that Prasad will be in complete control at NAPL
and will run it from his base in Bangalore.

NAPL will initially focus on distribution business in the South Asia region
including Dubai, Nepal, Sri Lanka and Pakistan, besides Singapore. This
signifies Paras' intention to not remain content with just the Indian
operations. Rather, he intends to make Neoteric a transnational corporation.

When Prasad called it quits at Ingram Micro in April this year, the only hint
he gave about his future plan was to have his on venture. This deal puts the
missing pieces of the puzzle in place. However, the official confirmation of the
understanding between Neoteric and Prasad is still awaited.

Prasad has always been known for his entrepreneurial skills, which is evident
from the companies that he launched throughout his career and subsequently sold
them smartly at the peak of its business. This probably is the first time he is
not selling, but buying stake in an existing company.

He started his career with ACI in Santa Clara, USA in 1982. He left it as VP
and GM in 1988 to set up Spectra Innovations, USA in 1989. Spectra's computer
peripherals division in India was subsequently acquired by Electronic Resources
Ltd, which became Ingram Micro in 1999. Prasad was instrumental in the
successful acquisition of Electronic Resources India Ltd by Ingram Micro.

Under his leadership, Ingram Micro became the third largest distributor in
India and within striking distance of Tech Pac and Redington

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