Tricom mulls two acquisitions in America

Mumbai, May 28: Tricom India Ltd is mulling a couple of acquisitions in the United States. "We are planning a couple of acquisitions this year and the first of them should hopefully be sealed within the next couple of months," said, Tricom Managing Director Chetan Kothari.

The acquisition will be in the USD 2-5-million range and financed entirely through internal accruals and term loans.

"Last year, we had come out with our GDR of USD 5 million and the proceeds of that will also be used for our acquisitions," Kothari said. The GDRs are listed on the Luxembourg exchange.

The acquisition will be in the legal field and Tricom will be acquiring only the clientele of the acquiree company.
Presently, Tricom is conducting due diligence for the acquisition, he said.

Tricom, which has 95 per cent of its clients from the US and the remaining from the UK and Europe, is a leading player in the legal litigation field, title insurance business and e-publishing.

According to Kothari, in e-publishing, the company converts the newspaper version into their web edition. "We have prestigious clients such as Washington Post, Chicago Times, Jerusalem Post and Financial Times."

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