Chennai, Mar 25 (PTI) Cement maker India Cements Ltd., which had developed an ‘in-house’ ERP with Coromandel Infotech India, has hived off the IT vertical and a separate firm Tekplay Systems Ltd has been formed,a top official said today.Also Read - Texas Abortion Ban Stays in Force as Justices Mull Outcome

“When India Cements expanded the capacity in early 1990s, it had developed an ‘in-house’ ERP with Coromandel Infotech India Ltd. The reason to form a separate IT initiative is that it will help govern our cement business,” India Cements Ltd, Vice-Chairman and Managing Director N Srinivasan said. Also Read - US: 30-year High Inflation Rate May Put Dent on Thanksgiving Holiday

“Since our association between India Cements and C2il (Coromandel Infotech India Ltd), they have been maintaining our IT infrastructure,” he told reporters here, after formally launching Tekplay Systems. Also Read - Half of US Covid Vax Hesitant Unlikely to Change Their Mind: Survey

Tekplay Systems Executive Director Prabhuram Ramanathan said the information technology vertical under the Coromandel Infotech was separated and a new entity under Tekplay Systems was formed.

“I am heading Tekplay Systems as Executive Director now.

From April one, 2017 it will be operating officially under Tekplay Systems. India Cements are our largest client. I will hold 30 per cent stake while the remaining capital will be infused through private equity and High Networth Individual.

Investments will be around USD 5-7.50 million in next two to three years,” he told PTI.

On expansion plans of Tekplay Systems, he said the firm would be headquartered in Chennai with an employee base of 400 and serve clients globally.

“Our plan is to achieve revenue of USD 100 million by 2020 and increase our employee base to 2,000. Current revenue is about USD 20 million,” he said.

The company has about 40 clients globally and would set up two development centres at San Jose and Atlanta in United States, shortly, he said.

This is published unedited from the PTI feed.