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| Exchange Disseminated Time | Cerebra Integrated Technologies Ltd has informed BSE regarding a Press Release dated June 11, 2011 titled "Cerebra Integrated Technologies Limited to infuse capital in to one of India's largest distributor of IT products, Geeta Monitors Private Limited, to take 51% stake in the Company for an all cash deal"
Press Release:
"Cerebra Integrated Technologies Ltd, in its board meeting today announced that it intends to infuse Capital in to one of India’s largest distributor enterprise, Geeta Monitors Private Limited (www.geetaelectronics) with a 51% stake in the Company.
Mr. V. Ranganathan, Managing Director of the Company in his vision to expand its Systems & Solutions Division. IT infrastructure business as demand increases in the world’s second fastest growing major economy.
The decision is in line with Cerebra’s strategy of focusing its energies and financial resources in businesses where it is making a deeper impact, Mr.V Ranganathan, Managing Director said in an
e-mailed statement announcing its capital infusion today.
Our partnership with Cerebra makes sense because we share core values and complement each others strengths to fill some critical gaps in the marketplace, says Mr.Ashok A Chhabria, Managing Director, Geeta Monitors Pvt. Ltd.
Mr. Ashok A Chhabria, promoter of Geeta Monitors who will hold 49% post capital infusion, will continue to run the operations of the Company.
About Geeta Monitors Private Ltd., (popularly known as Geeta Electronics) is a professionally managed company engaged in marketing of Electronic Components, Computers, Computers Peripherals and consumables.
The firm has the unique advantage of having an experienced technically qualified promoter Mr.Ashok A Chhabria, graduated in Electronics from Madras Institute of Technology, Chennai in the year 1978.
Geeta Electronics was incorporated in 1980 as the vision of young Electronics Engineer who was working as a R & D engineer in the Bharath Electronics Ltd.; Bangalore. In the beginning, the company was engaged in stocking and selling of electronic components from reputed Indian & Foreign manufacturer.
As the growth in the electronics industry showed a sharp increase with the introduction of Microprocessors. Geeta Electronics became a one-stop source of all types of electronic components and microprocessor trainers with a client spread all over India. The Company’s list of regular customers became a veritable list of who’s who in the Industry.
The Company has nearly three decades of experience in and Marketing Electronic Components,
Computers & Computer Peripherals and PCB designing and photo plotting. The Company is a pan India distributor of IT products for Personal Computing Systems, Servers, Storage & Networking, Software and Peripherals for brands such as APC, Dell, D-Link, HCL, HP, IBM, Lenovo, Microsoft, Symantec, Toshiba and Fujitsu products.
It has won accolades from ROORKIE in 2008, Data Quest in 2006, 2008 and 2009 and HP as a premium Business Partner in 2010.
For the year ending March 2011, Geeta Electronics had a total income of around Rs. 50 crores and is expected to reach more than Rs.100 Crore by the end of current financial year.
The combination of Cerebra and Geeta Electronics will expand its presence in other regions in the
Middle East, where Cerebra has recently opened its office in Dubai to cater to the growing Storage & Solutions market in GCC and other countries.
Geeta Electronics is known for achieving consistent customer satisfaction for over 25 Years, offers End TO End Solutions, a one stop shop for all customer IT Infrastructure needs from simple system upgrades to complex server & storage needs and everything in between like Laptops, Desktops, Servers, Networking, Software & Services and a good after sales and pre Support." |
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