ACCPAC International has acquired the 49 per cent stake held by Pentasoft in the joint venture ACCPAC India, signalling its intention to address the Indian market more intensively.
ACCPAC International, a fully owned subsidiary of Computer Associates, specialises in providing end to end business solutions to small and medium enterprises. ACCPAC International itself is now seeking a Nasdaq listing.
After having acquired large corporates like Hindustan Lever and Anglo American as its customers, ACCPAC now proposes to cash in on the realisation dawning amounting Indian SMEs of the need to use IT to further their businesses.
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ACCPAC India general manager Rajesh Ghosh said ACCPAC would implement an aggressive marketing strategy in India.
The strategy includes developing a major reseller network across the country and bundling ACCPAC products with other OEMs and software vendors, he said.
To address the Indian market, ACCPAC will offer localised solutions through partners developing modules run on ACCP.
These will address peculiar Indian business needs like accounting for tax deduction at source and excise duty.
In addition to its headquarters here, Ghosh said ACCPAC India would set up branches in Mumbai and Delhi, and also plans to expand to a number of secondary cities.
ACCPAC estimates the size of the Indian market that it wishes to address as Rs 500 crore, encompassing firms with turnovers ranging from Rs 5 crore to Rs 100 crore.
Forty per cent of these look for end to end business solutions which ACCPAC provides.
ACCPAC solutions have been ranked number one in Canada and the Asean and among the top three in the US, Middle East and Australia.