Microland Software to merge with Planetasia

BANGALORE: Microland Software Solutions (MSS), a Microland group company,

will merge with Planetasia.com, a global Internet Professional Services (IPS)

company. The merger exercise, which is subject to shareholders’ approval, is

expected to be complete in the next few weeks.

Calling this as a synergic merger, Planetasia.com CEO Anand Sudarshan said,

"MSS is very strong in backend solutions focusing on software engineering

and services for businesses that are leveraging the Internet. MSS has a deep

understanding of the Internet and e-business models apart from having some big

names as its clients. So we feel that the merger will add tremendous value to

Planetasia.com." Planetasia plans to tie up with some more companies in the

same segment in the next two to three weeks.

Mr. BK Jawahar, who has been appointed as the co-CEO of Planetasia.com, will

be in charge of HR, finance and other internal operations of the company while

Sudarshan will focus more on external areas like strategies, acquisitions,

tie-ups and business development.

Through this merger, all the 180 employees of MSS will become the employees

of Planetasia.com. They will be entitled to benefits like ESOPs in the company.

The total employee strength of Planetasia.com, which has increased to 450, is

expected to touch around 800 by the end of this year. The merged entity is

projecting total revenues of $18 million by next fiscal year.

Some of the clients of MSS include, Amazon.com, Biztro Inc., Celox

Communications, CoolForms, Digital Jones, TraderBot, VitalTone, Webhire and

Yoodlee.com. ICICI, HDFC, IL&FS and GE hold stakes in the company.