Vendors raise Iris exposure post inflexion acquisition

Known distributor Iris Computers, which recently sold its 90% stake in Inflexionpoint, saw two major developments post the acquisition.

Two IT giants, IBM and Lenovo, exceeded their credit limits to an extent believed to be a game changer and it is likely to bring more business to the company, according to Sanjeev Krishen of Iris Computers, who holds 10 percent stake in the company, serves as its chairman.

Neeraj Chauhan (CEO Inflexionpoint Asia) and Vishal Sopory have been appointed as directors of the new board.

He said that IBM has exceeded its limit to Rs 25 crore from Rs 1 crore, a 2500 percentage increase and Lenovo has doubled its credit limit from the previous, although he did not divulged on them statistics with this company.

Earlier, said Krishen, the company used to struggle and run short of credit limits and cited various examples in its inability to end a deal due to this. However, he said, with the acquisition the company is poised to scale the credit limit as well as due to the repute of Inflexion Point-company co­founded by Apple co­founder-other IT companies have increased their limits.

The company distributes systems products of OEMs like IBM, Lenovo, HP, Dell, Samsung, Acer, HCL, Canon, and Western Digital among others. The company has also targeted revenue of Rs 6,000 crore in the next three years. Currently, the company has closed Rs 2,000 crore as the top line in FY 14.

The company is also looking into innovative financing and planning to set up a Non-Banking Financial Company (NBFC) to make credit easy. This will help its partner community to get an extended credit limit with a certain interest.