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Micro Technologies in talks with S Africa cos for market entry

Micro Technologies in talks with S Africa cos for market entry
PTI
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First Published: Mon, Jun 06 2011. 03 22 PM IST
Updated: Mon, Jun 06 2011. 03 22 PM IST
Chennai: Software and hardware security solutions provider Micro Technologies India is holding talks with several companies in South Africa for a formal foray into the market in that country, a top company official said on Monday.
The Mumbai-based firm, engaged in providing software and hardware security solutions across the infrastructure, automobile and mobile verticals, currently exports to the Middle East, Japan and China.
However, it intends to enter Africa by appointing a representative dealer there, Micro Technologies (India) executive director S Aditya said.
“We are in talks with many companies... We are looking at operations in Tanzania first and then to increase our presence in the African market,” he said in an interaction here.
Stating that the African market has huge untapped potential, he said this move would help increase their global market presence. “Right now we are exporting our products to Israel, China and to Japan,” he said.
The company reported a Rs 400 crore revenue for 2010-11, with 40% of it coming from exports.
On their outlook for 2011-12, he said they aimed for 40% growth this year. “We grew by 20% in 2010-11 (compared to the previous year). This year we are aiming at a growth of 35-40%,” he said.
Micro Technologies on Monday( appointed home appliances dealer S-Mart as their main dealer for the Tamil Nadu and Puducherry markets. The company has 238 main dealers and has two subsidiaries each in Australia and Dubai.
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First Published: Mon, Jun 06 2011. 03 22 PM IST