BFL plans overseas acquisitions in e-commerce sector

Bangalore-based BFL Software Ltd. is planning tie-ups and acquisitions with overseas companies in the Internet and e-commerce segment. "We are working out options to tie-up or acquire overseas companies. We are speaking to some people and shortly expect to finalise some agreements," BFL Software Ltd. President and CEO B.V. Venkatesh told CIOL Bureau.

The company is also opening up a new facility in the last week of October in aid of their expansion plans, after which they would use the current premises as a development centre. With the new facility, BFL would be able to accommodate about 1,600 employees. BFL is also planning to have a dedicated centre for ING during the next six months, who has a 52 per cent equity stake in the company.

BFL is currently focussing on the Internet and e-commerce areas with products and projects. The company has already released its net KIOS — an acronym for networked kiosk interactive operating system, which supports a complete developing and operating kiosk environment and allows a wide range of interactive, multimedia application. The company has also introduced "kio", which is a public domain, interactive, multi-media terminal linked to the Internet to communicate, access information and enable business transactions. Kio serves as a platform for value-added services like on-line shopping, Internet banking, payment of utility bills and etc.

For the current year, BFL is expecting around 25 to 30 per cent of its revenue from the Internet and e-commerce projects and around five per cent from products for the year 2001. The company is expected to grow by 35 to 40 per cent in the current financial year as compared to 100 per cent growth in the year 1998-99.