Chennai: It took a market survey for NR Panicker, chairman and CEO of Accel ICIM, to realise the power and importance of communication in this fierce competitive world. It was a shocking revelation for him to note that the market perceives his Rs 100-crore-plus company as a software-training outfit rather than as a systems integration or hardware services company. In fact, another group company Accel Software and Technology, carries out the training activity.

It's not just that. Despite the high-profile acquisition of Fujitsu ICIM's systems integration business two years ago, some business magazines (not domain-b.com see Pondy set to become India's Taiwan) in their industry surveys omitted to list Accel ICIM as a player in the systems integration and hardware manufacturing domain.

Accel ICIM has clubbed all its operations under three strategic business units (SBUs) integrated technology services (hardware maintenance, OEM repair services like warranty claims for Intel, Samsung, network integration and management), enterprise software (ERP/CRM/SCM solutions, cooperative banking software) and hardware and system services.

Realising that to allow this wrong market perception is bad for an Intel-invested company, Panicker decided to change his tack. And he has good things to talk about. Adept in inorganic growth, Panicker says Accel ICIM is again into it. The Rs 13 crore equity-based unlisted company is negotiating for buying out at least two companies engaged in networking and software business. "One deal will be finalised in two months time, but I can't divulge any more details," he says. "Acquisition is our route to maintain a 40 per cent growth during the next five years."

In 10 years, the company has acquired four outfits. Way back in 1993, the company bought the computer-manufacturing unit of the DC Kothari group. In 1997 Accel ICIM took over Athreya Technologies, Delhi, and a year later it bought out the services business of Network, part of the HCL group. But what turned the spotlight on the company is the acquisition of Fujitsu ICIM, a systems integration outfit, in 1999.

Panicker says hardware and software services are a major revenue contributor. "The hardware services brings in around 25 per cent of our turnover." Projecting a turnover of Rs.170 crore this fiscal, Panicker says his company's performance is in line with the target. For the nine months, Accel ICIM had clocked a revenue of Rs 100 crore and an after-tax profit of Rs 51 crore.

About the software products developed at its Pune and Chennai centres, he says the company has developed two products. "One is the cooperative banking solutions, and we are looking at Kerala based cooperative banks as our market." Accel ICIM is also planning to tap business from state governments that are moving towards e-governance.