Over 90% of Glodyne's revenues come from IM services. Government business, where it has projects such as NREGA, contributes to nearly 30% of its revenues. Following the acquisition, nearly 2,000 employees of DecisionOne will move to Glodyne's payroll, increasing its staff strength to around 3,000.
The decision to buy it, had been considered a good move by the IT analysts and soon it could be a golden goose, especially when the INR is above Rs.61 against USD. The acquisition gave Glodyne Tech a presence in the US market, which remains the largest market for the Indian IT industry even today.
Moreover, there are media reports that, Glodyne Technoserve Ltd is thinking to sell a part of its stake in its US subsidiary to reduce the debt burden. The company in a press release to the stock exchanges said: "...the Company, in order to reduce its debt burden and improve liquidity, has been considering various options including in respect of its US based step down subsidiary DecisionOne Corporation including divestment of its partial or full stake/ inducting strategic or financial partner".
Therefore, it is imperative that the investors take position in the shares of the company (especially at a time when the IT stocks are flaring up everyday) at around Rs.9.23, to a get decent return in the next 6 months.