D-Link''s subsidiary forms JV with Mercuries Data Systems
By Sajeev Nair | 16 Dec 2003
Mumbai:
Cashing in on growing need of automated teller machines
(ATM) machines in India, networking solutions major
D-Link India Ltd has entered into a joint venture with
Taiwan-based Mercuries Data Systems Ltd (MDS) to manufacture
and sell a range of ATMs in India.
Under the agreement, which was signed between Lanner Electronic India Ltd, a subsidiary of D-link India, the companies would make and distribute ATM machines from D-Link''s facility in Goa.
To facilitate this, the companies have also formed a new joint venture firm, Mercury Link Systems Ltd, which would invest an additional Rs five crore in the Goa facility. "India is the fastest growing ATM market in the world and is only second to China, which has prompted us to set a manufacturing base here," says K R Naik, managing director, D-Link India.
The joint venture partners expect to sell around 10,00 ATMs per year and garner over 15-25 per cent marketshare within the next one to two years of operation, he said. The companies are also planning to make India a hub for its manufacturing activities and service the Asia-Pacific region from the sub-continent.
D-Link India, which mainly services the Small Office Home Office (SOHO) segment, had earlier signed a partner deal with Lanner Electronics of US for manufacturing of ATMs from a facility in Taiwan. D-Link has a 49 per cent stake in Lanner Electronics India Ltd.
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