By Roshna Sankar
As part of their expansion plans and business intelligence (BI), the product firm Manthan Systems is scouting for strategic acquisition overseas.
Manthan Founder and Chief Executive Atul Jalan says that the company is looking at collaborating with and acquiring organizations in the retail BI space to help them leverage their abilities to create better products and reach a wider audience.
The firm has developed a software product, branded ‘ARC’, for retail business intelligence and finance analytics. The company rolled out its sixth version (ARC 6.0) last year when there were troubles in IT industry in the wake of global financial crisis. According to Jalan, ARC 6.0 helped them grow two fold, when many products and services firms struggled to cope with the melt down. He adds that by using his company’s products retailers were able to plan ahead, make decisions faster, and optimize their resources.
The Bangalore based firm recently raised $15 million (Rs. 690 million) from the private equity fund Fidelity to invest in people, technology, and sales and marketing in its traditional and emerging markets. Manthan’s clients include over 40 leading names in the retail and CPG businesses like GAME Group, Robinsons, Ripley, Woolworth, McDonald’s, and SM retail group.