Vinsys says it is actively looking for inorganic growth opportunities to strengthen its position in the Middle East as well as expand its reach into new markets including the US and the UK.
Vinsys operates in UAE, Oman, Malaysia, Singapore, Nigeria, Kenya, UK and US
IT services company Vinsys on Wednesday said it is exploring acquisition opportunities in overseas markets including the US and UK to expand its global reach and also announced plans to launch its maiden public offering.
Pune-based Vinsys offers customized courses for sectors such as BFSI, telecom and government departments, where training for IT and processes is essential. It has a team of over 800 professionals certified by leading technology companies and institutes. Vinsys said in a statement that the company posted a revenue of Rs 157.30 crore and a net profit of Rs 16.02 crore during the last financial year.
Currently, Vinsys operates in UAE, Oman, Malaysia, Singapore, Nigeria, Kenya, UK and US. As part of the expansion plan, the company said it is actively looking for inorganic growth opportunities to strengthen its position in the Middle East as well as expand its reach to new markets including the US and the UK. Is.
The company also plans to open a new corporate office and training center in Saudi Arabia before the end of the second quarter of 2023-24.
Vinsys is also working towards an Initial Public Offering (IPO), which it aims to complete within the current calendar year.
The company said it has appointed merchant bankers and law firms for the purpose of fundraising.
“We entered a nascent industry, which enabled us to offer modules as per the customers requirement. Over time, the company has scaled up its operations and established world-class infrastructure with the continuous support of its clients including global IT majors in Pune. Have invested in training rooms and facilities,” said Vikrant Patil, Founder and CEO, Vinsys.
In addition, he said, Vinsys is confident of executing M&A transactions and integrating new firms.
“In addition to tapping into inorganic growth opportunities, Vincere is also looking to grow organically. For this, the company has already recruited business development teams in the US and is looking to do the same in Europe,” Patil said.
With the ongoing global uncertainty, the company said it sees an opportunity to scale up its operations.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
