Stock Picking - Art Or Science

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Wednesday, January 17, 2007

Pantaloon - Acquires Officedge

Pantaloon - What's Your Future Office

Pantaloon Retail India Ltd has informed BSE that Future Office Products Pvt Ltd, a wholly owned subsidiary of the Company, a part of Future Group, has announced the acquisition of the operations and management of Officedge, an online B2B office products Company providing contract delivery services to corporate customers on a pan India basis. Providing a one stop shop on a proprietary e-procurement solution, Officedge currently serves more than 80 large corporate customers across 6 cities offering close to 1200 office products.

Backed with an efficient supply chain infrastructure, it offers ease of ordering, next-day delivery and an ongoing 'Saving Programs, which can be rolled out on a national basis. Officedge was co-founded by two professionals turned entrepreneurs, Shailesh Karwa and Sharad Dalmia (previously consultants with TCS and Accenture respectively), after they felt an imminent need to organize the highly fragmented office products market in India.

This acquisition will give Future Office a headstart in the $10 billion office products market in India. Commenting on the acquisition, Mr. Rakesh Biyani, Director of the Company said "this acquisition fits in with our strategy of being present with different business formats to capture increased spend levels by customers. We have over the years pioneered many concepts where we interact with end customers. Officedge is a unique organization and gives us the necessary traction in a growing market".

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