Hitachi Systems acquires 100 percent stake in Micro Clinic
Source:- cio.in
I’d like to make Hitachi Systems Micro Clinic India’s number one SI company that positively impacts the lives of citizens through our social innovation and digital transformation initiatives, said Tarun Seth.
Hitachi Systems Micro Clinic is now fully part of Hitachi Systems.
Japanese conglomerate Hitachi Ltd, through its wholly-owned subsidiary Hitachi Systems Ltd, has now acquired 100 percent stake in Delhi-headquartered Micro Clinic, the company in an official statement issued exclusively to IDG India.
It is true that the final 24 percent stake was acquired by Hitachi Systems Ltd and the transaction was completed in November – December 2018, mentioned the statement by Hitachi Systems Micro Clinic (HiSys MC).
Hitachi Systems Ltd had acquired 76 percent stake in 2014 in Pan India SI and IT services Company Micro Clinic for a deal between INR 80 to 100 crore, according to reports.
IDG India was the first to break the story of Hitachi Systems Buys IT Services Company Micro Clinic in February, 2014.
The company after the full stake by Hitachi Ltd. will continue to operate as Hitachi Systems Micro Clinic.
Talking on the deal value of this additional 24 percent stake, the company stated that, “Since this is a private transaction, the numbers are not available in the public domain. The shareholders are happy with the valuation, which is in line with the effort, growth, expansion and value created.”
With the cent percent stake, there is not much change in GTM and rebranding, as HiSys MC will continue to engage with enthusiasm and customer focus to creating a better tomorrow. HiSys MC has set exemplary standards of employee engagement and satisfaction.
The perception in the market might change for a 100 percent Hitachi Company, but internally, it is Business As Usual.
Also Read: Hitachi Systems Micro Clinic to be a billion dollar enterprise
Role of Entrepreneur Tarun Seth
Tarun Seth is the brand of Hitachi Systems Micro Clinic in India.
His passion, resolve, vigor is unparalleled and he will continue to be the MD of the organization, as per the company.
He is expected to continue as MD of the entity till 2023.
Speaking on what made him sell the remaining stake to Hitachi Systems, Tarun Seth, MD, Hitachi Systems Micro Clinic told IDG India, “It has been a very satisfying journey over the past five years. We have grown 10X in five years and also tagged as the fastest growing entity in Hitachi Ltd. for the last 5 years. Selling the remaining stake was part of the agreement we entered into in 2014.”
Hitachi Systems Micro Clinic had a great growth as they clocked INR 603 crore, INR 902 crore and INR 1408 crore (unaudited) in the past three fiscal years.
And the company is aiming for 2100 crore for the fiscal year 2019-2020.
Into the Overseas
Hitachi Micro Clinic has commenced SI and services operations in Middle East with direct operations in UAE, and through partnerships in Oman and Qatar.
It is the second company in UAE to have a trading license as branch of a foreign entity after Apple – this shows the credibility Hitachi has in the world.
Middle East business started a year ago in May 2018.
“It is our direction to expand into EMEA (Europe, Middle East and Africa) and Dubai was our first step, The IT projects including solutions and services will be an extension of the business that we do in India,” said Tarun Seth.
Rajan Bhandari, CEO, Hitachi Systems Micro Clinic heads that business with General Manager Subramania Kumar driving the business on ground.
Hitachi Systems Micro Clinic will have a horizontal focus mode as of now with concentration around BFSI and government. Cybersecurity is a worldwide opportunity as we are sanguine that our expertise and experience will be very well received there, he added.
Talking about their USP as an SI over the local SI companies in Middle East and/or GSIs from India, Tarun said, ”We not only bring the technology through our expertise but the domain expertise across our various organizations that help improve process efficiencies, automate, transform and enable them for the new digital economy.”
Hitachi Systems Micro Clinic will soon be starting operations in Singapore.
How will Tarun drive the next growth in the next four years, he answered confidently, “Number 1 is a favorite number when it comes to ranking. And I would like to make Hitachi Systems Micro Clinic the number one SI company in India that positively impacts the lives of citizens through our social innovation and digital transformation initiatives.”
It’s a dream come true for Tarun as a technology entrepreneur who incepted Micro Clinic in Delhi more than 25 years ago which is now fully acquired by the Japanese giant Hitachi.
“In God we trust and in that faith we execute. The results and outcomes are the blessings. Humility, perseverance, dedication and gratitude are the ingredients for living a life of fulfilment,” said Tarun Seth, Managing Director, Hitachi Systems Micro Clinic.