The Hindu : TVS eTech in pact with Verifone

Online edition of India's National Newspaper
Wednesday, Feb 27, 2002

Business

Business

TVS eTech in pact with Verifone

By Our Special Correspondent

CHENNAI FEB. 26. TVS eTechnology, a member of the TVS Electronics group of companies, has inked a partnership pact with Verifone Inc., a global company that provides electronic payment solutions.

The partnership will enable the company participate in the joint development and deployment of Verifone's advanced electronic payment technology into financial institutions and other emerging fields across the sub-continent.

Essentially, the alliance will help Verifone use the TVS eTechnology bandwagon to push its products and solutions across India effectively.

TVS eTechnology was formed in September last by transferring all activities related to IT management services from group companies. It is a subsidiary of Sundarm Clayton. According to a company release, TVS eTechnology offers an assortment of services ranging from facilities' management service to third party maintenance services of various brand owners.

According to S. Swaminathan, head of the company, TVS eTechnology, still in its incubation stage, is now serving the requirements of the group outfits. It is now pining to reach out to non-group clients. Surely, the Verifone connection has come as a shot in the arm for TVS eTechnology which is hoping to cash in on the global standing of its partner even as it strives to pick up a lesson or two on service capabilities and the like from the former.

Mr. Swaminathan claims that TVS eTechnology, given the current business growth, can scale a revenue of close to Rs. 6-7 crores in the first 12 months of operation.

Send this article to Friends by E-Mail

Business