POSIFLEX Technology Inc. to invest US$ 10 million in India

Acquires Protocol Solutions to grow POS sales in the unorganised retail sector

POSIFLEX Technologies Inc., a professional POS (Point of Sales) hardware solution provider worldwide, today announced the acquisition of a majority stake in one of their leading distributors in India, Protocol Solutions a bangalore based company. With this, Protocol Solutions will now be called POSIFLEX India, thereby making a direct presence in India. POSIFLEX products are widely used by the largest of retail outlets in India, making them the second largest in India next to IBM according to IDC report.

This strategic move will help shorten the lead time of delivery and provide satisfactory service to customers, to increase brand awareness and expand market share. On the strength of acquisition, POSIFLEX will not only acquire the existing channel resource, but also give access to the Indian software development industry to bundle with hardware of POSIFLEX. It is expected to offer low TCO (Total Cost of Ownership) solution from India to global channels eventually.

On this occasion Mr. Owen Chen, CEO, POSIFLEX Technology Inc., said, “We saw great potential in the Indian market and decided to enter India by acquiring a majority stake in Protocol Solutions. We were happy with our relationship with Protocol and impressed with their track record. They understand our products well and have played a vital role in creating a demand for our products in India. So when we thought of having a direct presence in India, Protocol was undoubtedly our choice.

We will be investing US$ 10 million over the next 3-5 years, which will include setting up of R&D team in India to deliver customised solutions, strengthening our marketing and channel partners as well as an option of starting an assembly line.”

“There is tremendous potential in the Indian retail market. With hundreds of malls that are projected to open in the coming years, the sector is expected to invest around US$ 500 million in retail technology service solutions in the current financial year. This could go further up to US$ 1.26 billion in the next four to five years. So it was an important strategic milestone for us to have a direct presence in India,” added Mr. Chen

Mr. Dinesh, Director, Protocol Solutions, said, “The organised retail sector accounts for only 5 per cent of the Indian retail market, which leaves us with the big chunk of untapped unorganised retail market. As POSIFLEX India, we intend to enter the huge unorganised retail market through channel partners across India.”

Mr. Baskar, Director, Protocol Solutions, said, “We have been working as POSIFLEX distributors for over eight years and today their solutions are widely used by most of the large retails chains in India. We have worked with POSIFLEX and have been instrumental in making the product second largest in India with over 20 per cent market share. As we have developed great success stories in the organised retail segment, POSIFLEX Technology will be leveraging these successful cases in other countries.”

POSIFLEX POS solutions are used in multiple market segments such as, hospitality, retail, entertainment, logistics, manufacturing, banking, information services etc. Protocol has successfully deployed POSIFLEX products in both Industrial Automation & Retail Automation. Their clientele includes, Ford India, IFB, Hindustan Motors, Ashok Leyland, Schneider Electric, Shopper Stop, KFC, HyperCity, SPAR hypermarket, Fresh@, Subway, Costa Coffee, Café Coffee Day, Food World, Royal Orchid, Arvind Brands, Peter England, Lifestyle to name a few.

About POSIFLEX
Posiflex Technology Inc. was founded in 1984 as a PC and PC peripherals design and manufacturing company, transferred to POS industry in 1991, who has now evolved and grown to become a world leader in design and manufacturing of POSIFLEX POS terminals and POS related peripherals. POSIFLEX designs and manufactures all POSIFLEX brand products in its own ISO 9001/9002/14001/IECQ QC 080000 certified laboratory and factories in Taiwan. The products have been honored by many national and international awards and with over 30 patents worldwide, covering secure, integrative, flexible and easy-to-use features. For further information please visit: http://www.posiflex.com/english/01_products/00_overview.php

About Protocol Solutions
PROTOCOL SOLUTIONS PVT. LTD., is incorporated in Bangalore and is one of the Leading RETAIL & AUTO ID Solution provider in India.

Protocol team is dedicated to provide TOTAL SOLUTION and achieve Customer Satisfaction through our personalized service. Having started its operation in India on April 1997, Protocol now extends its arms across India setting up branch office in Chennai, Hyderabad, Mumbai, New Delhi and Kolkata. Protocol began its operation in India with AUTO ID products and slowly expanding in the ever growing Retail automation market in view of offering complete solution under one roof. Our advantage to the customer is that our technical expertise in providing the most complex solution at ease due to our vast experienced technical team.

Press contacts:
Good Relations India Pvt Ltd
Gautam Mahtani / Benazir Akthar
+91 9886024977 / 9900222648
gautam@gri.co.in / benazir@gri.co.in

• Cosmetics & Skin Care - It's a Cover Up For many years now we have seen a move away from skin care products that contain chemicals which are potentially harmful to the skin. Consumers have begun to demand natural skin care products. That is, they demand products, that instead of containing potentially harmful, synthetic and/or artificial ingredients contain natural......
• Network marketing and avoiding failure One thing that seems to me everybody needs right now is a way to generate more income.  In times past people would try to get second jobs to do this.But with the growing amount of people losing jobs and employers getting rid of hours it is difficult.One industry people are......
• Apple's iPad rated high against rival tablets [/caption] Apple Inc's iPad will not face a serious competitor until next year, and when tablet rivals do emerge, they will have a hard time matching iPad's customized applications, according to a report from market research firm iSuppli. The iPad, which likely will account for nearly three quarters of worldwide......
• Review MLM Marketing Business Fortune Hi-Tech Marketing is a pioneer in the network marketing industry. For the past eight years of existence, it has built an international marketing empire and rakes in $500 million in sales. At its core, Fortune Hi Tech Marketing is like any other MLM network marketing company. It makes its......
• Local Produce from Farmers Markets During the latter half of the summer and the earlier part of the fall, you are dealing with what is the perfect season for visiting a farmers market. There are small "mom and pop" style stands and larger, more organized markets offering extensive selections from multiple vendors. No matter which......