Better future through IT firms mergers
January 10th, 2015 | Technology Times | No Comments
Business strategies have always been a focused point of business community across the world with a focal point of achieving progress and consolidating businesses. The world has witnessed a long list of mergers of renowned companies who later showed remarkable achievements by widening their areas of business. Mergers and acquisitions are both aspects of strategic management, corporate finance and management dealing with the buying, selling, dividing and combining of different companies. The ICT sector since its inception in the world specifically focused on mergers and acquisitions as most of the world IT giants always focus on exploring possibilities of enhancing collaboration to further capture the market. Pakistan, which has emerged as the fastest growing state in terms of ICTs during the last decade, has started welcoming the trend of IT companies mergers. The recent strategic merger of Confiz Ltd. and Mantaq Systems, the two IT giants, opened the ways and means to ensure enhanced collaboration. This strategic decision is one of a kind in the history of IT industry in the country. It has the potential to result in a leading technology and innovative company driven by ground-breaking solutions which is intended to transform the retail business across the globe. There are strong indications that this merger would go a long way in opening news vistas of cooperation as well as capturing more market niche not only in Pakistan but also in the world. The launch of 3G and 4G last year in the country has emerged as an instrumental in creating a job market as various international IT giants have started multiple collaborations with a number of Pakistani IT companies. Though a large number of local companies have excelled significantly in their individual capacity, yet mergers and acquisitions across the world have emerged an important way of securing envious projects. Pakistan should encourage and promote companies collaboration even mergers at all levels that would help them further penetrate in the international market. We have a rich and qualitative market of IT manpower on comparatively cheaper rates, which obviously attracts the world IT companies, who always remain on the prowl to find cheaper markets for outsourcing. The merger of Confiz Ltd. and Mantaq Systems is just a start as they have set the ball rolling in terms of collaboration. Brighter future lies ahead and local bigger companies should come forward and grab this opportunity with full potential if they really want to achieve a bigger space in the international markets.
Published in: Volume 06 Issue 01
Short Link: https://www.technologytimes.pk/?p=12628