Prasad Mamidanna buys into Neoteric's Singapore subsidiary

Mumbai-based distri-bution major, Neote-ric Infomatique is

learnt to have sold 50 percent stake in its Singapore based subsidiary-Neoteric

Asia Pte Ltd (NAPL) to Prasad Mami-dana who earlier this year bid goodbye to

Ingram Micro.

NAPL was established by Neoteric's boss Paras Shah as a

wholly-owned subsidiary of Neoteric India. Now this deal means that his stake

comes down to 50 percent. It is further understood that Mami-dana will be in

complete control at NAPL and will run it from his base in Bangalore.

NAPL will initially focus on distribution business in the

South Asia region including Dubai, Nepal, Sri Lanka and Pakistan, besides

Singapore. This signifies Shah's intention to not remain content with just the

Indian operations. Rather, he intends to make Neoteric a transnational

corporation.

When Mamidana called it quits at Ingram Micro in April this

year, the only hint he gave about his future plan was to have his own venture.

This deal puts the missing pieces of the puzzle in place. However, the official

confirmation of the un-derstanding between Neoteric and Mamidana is still

awaited.

Mamidana has always been known for his entrepreneurial

skills, which is evident from the companies that he launched throughout his

career and sub-sequently sold them smartly at the peak of their business. This

probably is the first time he is not selling, but buying stake in an existing

company.

He started his career with ACI in Santa Clara, USA in 1982.

He left it as VP and GM in 1988 to set up Spectra Innovations, USA in 1989.

Spectra's compu-ter peripherals division in India was subsequently acquired by

Electronic Resources Ltd, which became Ingram Micro in 1999. Mamidana was

instrume-ntal in the successful acquisi-tion of Electronic Resources India Ltd

by Ingram Micro.

Under his leadership, Ingram Micro became the third largest

distributor in India and within striking distance of Tech Pac and Redington.

DQW News Bureau


Mumbai