Tekplay Systems inks exclusive tech pact with CSK, eyes $100 mn by 2020

The technology companies are based in Dubai and Singapore and post-acquisition, Tekplay is looking at consolidating its revenues before March 2018, when it aims to achieve $30 million revenue.

Prabhuram, ED, Tekplay Systems, currently, has about 40-45 per cent stake in Tekplay. The two acquisitions would lead to a dilution of around 18 per cent stake, he said, adding that the company had already acquired three tech companies – XcellForce (a San Jose based services firm), Tekoptimize (a California products firm) and GlobalSoft Solutions (New Jersey-based tech solutions provider). 

These were done in the first quarter of its existence, when its revenues swelled by 20 per cent. While XcellForce and Tekoptimize were bought with an investment of $2 million for each, GlobalSoft was acquired for $5 million. 

So far, the funding has been done by debt route to the tune of $3 million. The company is also in discussions to attract PE. 

“One fund is based out of Dubai which is in advanced stage for a capital investment of $15 million,” he said, indicating that this would get completed by February next year. Tekplay Systems, which has presence also in Dubai, Bengaluru, Pune and the US, was launched by former India cricket Captain MS Dhoni in March this year. 

Announcing its exclusive technology pact with the Chennai Super Kings (CSK) for the upcoming season of the Indian Premier League cricket, Prabhuram said, this marks its foray into Sports Technology vertical. 

Also the company is upbeat on leveraging the power of social media, which he claimed, had a CSK fan base of 2.5 crore to 3 crore scattered on platforms such as Twitter and Facebook. Giving it a digital home is the endeavour, he said, noting that Tekplay is also looking at acquiring two specific application companies that are based in Chennai and Singapore (each of these is a $2 million startup). 

“We were waiting to formalise the CSK agreement so that we can go ahead with these back-end deals. Through these, we would be able to do client and talent acquisition as the latter is one of our biggest challenges. Global talent, rather than local talent is our focus. CSK, India Cements and the Ciscos of the world as our clients would give us advantage to further market, visibility and an opportunity to deliver,” Prabhuram said. 

Tekplay Systems offers technology solutions and professional services to enterprises across the globe. It works with Fortune 500 and Global 2000 companies and employs 400 people.