Datanet Systems to acquire printer business of WeP Peripherals for Rs17 crore
19 Dec 2011
Datanet Systems Ltd today said that it will acquire the printer business of WeP Peripherals Limited, formerly known as Wipro ePeripherals Ltd, in an all stock deal worth around Rs17 crore.
Bangalore-based Datanet, whose current stock price is Rs14.50, will has issue 11,741,964 of its shares to WeP Peripherals shareholders, valuing the deal at around Rs17 crore.
Founded in 2000 and also based in Bangalore, WeP Peripherals, one of India's largest employee-owned companies, manufactures and sells printers and UPS batteries.
It also makes dot matrix, line matrix, retail POS, retail billing, laser, and passbook printers.
The company also provides consumables and print heads and offers contract manufacturing and design services.
Datanet Systems started as a public limited company in 1995 as Datanet Corporation Ltd and later renamed as Datanet Systems Ltd. Its main business is Managed Printing Solutions, which includes a wide spectrum of single and multi - function printers of mono and colour.
It manages over 16,000 printers across 1,500 cities, towns and villages across India and supplies its printing and imaging products to more than 600 organisations.
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