Delhi-based Iris Computers is thinking big setting a target of emerging as one of the top-3 national distributors and is eyeing Rs. 6,000 crore turnover in the next 2-3 years.
The distributor has been on the spree, bagging multi-crore projects in government and large enterprise space after being financially supported by John Sculley-led Inflexionpoint Acquisition Corporation (”Inflexionpoint”).
In 2013, Inflexionpoint made two big acquisition in Singapore and India. The investor firm completed the Share Purchase Transaction, where Inflexionpoint acquired 99 percent controlling stake in Iris Computers. This was the second significant move in Asia after it completed the acquisition of Singapore-based IT component distributor, Dragon Technology Distribution. With the Iris and Dragon acquisitions, Inflexionpoint has consolidated over $700M in annual distribution revenues spread over 10 countries in Asia Pacific.
In the recent restructuring, Vishal Sopory of Inflextionpoint has been appointed CEO of the Iris Computers and is looking to make Iris computers as one of leading distributors in India.
During his first interaction with the media Sopory said, “We have a mandate to become leading ICT Company in Asia pacific, with focus in Singapore and India. As a broader plan, we will be becoming $3-5 billion company, without the China revenue in next 3-4 years. The prime role that we will be plying at Iris is of innovative financing mechanism. Till now, Iris was not able to scale up due to financial challenges, but now Iris is capable to give direct competition to Ingram and Redington, and pitch for large size deals. Money is no longer constraint for us to say ‘No’ to any deal.”
He also added, “With our Innovative Financial mechanism process, we can close any mid sized orders in minimum 2 hours. Our effort is to simplify document process and close the deals with the support of our partners and OEMs.”
Sameer Chaudhary, Sr VP, Sales, Iris Computers said, “Earlier, due to our tight bank credit limits OEMs were hesitant give us large projects, but now with Inflextionpoint this is no longer a bottleneck.”
The distributor has been on the growing curve, in this FY 2013, Iris witnessed Rs 2,000 crore turnover and next year it will be touching Rs 3,000 mark.
Sanjiv Krishen, Chairman, Iris Computers said, “We started our operation in the year 1997, with a modest turnover of Rs 5 crore and over the period we have grown Rs 1,000 crore firm. We are a different distributor, we go out of our way to support our partners to close the deal. Today, we are one of the first ‘choices’ for any partners to work with. Collection of payments is no longer challenge for us.”
