Ricoh India acquires Momentum Infocare

Ricoh India, a subsidiary of Ricoh Company has made its first acquisition in the IT sector by acquiring Momentum Infocare. The acquisition entails that Ricoh India will acquire the competency knowledge and expertise of Momentum Infocare, a Noida-based IT Company with about 100 employees and the last reported annual revenue of Rs.311 Million to offer an inclusive range of IT enabled services.

Tetsuya Takano, Managing Director and Chief Executive Officer, Ricoh India Limited said, "With the changing business environment, customers are looking for products and services that offer quality, increased productivity, and have short turnaround time with prompt after-sales service. The fast-changing Information technology has brought about extreme changes in the working of any organization. Ricoh has completely coordinated itself with this transformation. As part of our global mandate and strategy, Ricoh has been making rapid strides in offering advanced solutions by acquiring the skill set and technological knowledge that help our clients to deliver better results. Ricoh envisages over 25% of our new businesses coming from such synergies. The markets for Ricoh US and Europe have also grown phenomenally primarily because of such initiatives”. Detailing further, Mr. Takano said, "Ricoh India's business acquisition with Momentum Infocare will be significant in nature. In Momentum Infocare we have found complete synergy which will help us cater to our clients better. Momentum Infocare has been registering a very healthy growth over the past years. With this alignment, Ricoh's vision is to deliever package of IT services to clients that would bring efficiencies in work, reduce cost and bring a complete turnaround in the working of the company. Positioned as a One-stop-Solution company, Ricoh will now be offering value-added services to further enhance processes. We hope to tap a sizable business from such alignment”.

Gurprit Singh, Director, Momentum Infocare remarked, "We think that now is the correct time to join forces with Ricoh India Limited, because there is a massive opportunity to leverage each other's strengths and achieve our long term vision of becoming leading system integrators in the country, delivering happiness to customers, employees, and vendors. Ricoh's presence across the country and strong leadership team would ensure that together we are able to achieve this much faster”.