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Palred Technologies

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Palred TechnologiesPalred Technologies
PalredTechnologies-logo.png
Type
Private
IndustryRetail
PredecessorFour Soft Technologies Ltd.
Founded 📆1999 (1999)
Founder 👔Palem Srikanth Reddy
Headquarters 🏙️Hyderabad, Andhra Pradesh, India
Area served 🗺️
India
Key people
Palem Srikanth Reddy (chairman, managing director),
Ameen Khwaja (CEO)
Products 🎛️ 🧴Consumer electronics
BrandsLatestOne, PTron
Members
Number of employees
SubsidiariesPalred Online Technologies, Saverable.com, Great indian t.com
Website[Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] 
address
telephone

Palred Technologies Limited (formerly Four Soft Ltd.) is an information technology company headquartered in Hyderabad, India. It provides technology solutions[buzzword] for online e-commerce companies.[1]

History[edit]

Early history[edit]

Palred's predecessor, Four Soft Ltd. also known as Four Soft was established in 1999. Four soft was initially created as Four Soft Private Ltd. in Hyderabad in the state of Andhra Pradesh, India. The company operated in the software development industry and provided solutions[buzzword] to the transportation and logistics sector.[2] Mr. Koh Boon Hwee, Ex-Chairman of Singapore Telecom, Singapore Airlines, DBS bank was the founding chairman of Four Soft. Mr. David Beatson and Mr. M.M.Pallam Raju has served as its Board Members.

2001 – Four Soft created a subsidiary called Four Soft LLC, San Francisco (USA), to support its expansion in America.

2003 – Four Soft was converted into a public limited company and listed on both the National Stock Exchange of India and the Bombay Stock Exchange.[2]

2004 – Four Soft acquired Cargo Mate International, a transportation and freight forwarding software solutions[buzzword] company based in the Netherlands.

2005 – Four Soft acquired Comex Frontier Pte Ltd, a Singapore-based software solutions[buzzword] provider and MY Comex Sdn Bhd, a Malaysian eCommerce solutions[buzzword] provider for logistics. It also acquired DCS Transportation and Logistics Solutions[buzzword] division, transport and logistics software solutions[buzzword] with operations in UK, The Netherlands, US, France and Germany.[2]

2006 – Four Soft set up a subsidiary Four Soft Japan K.K. to support its expansion in Japan. Then, it acquired two companies: FWL Technologies, UK, a freight and shipping software business and Transaxiom Holding A/S, a company headquartered in Denmark.

2007 – The Global Institute of logistics, New York appoints Four Soft CEO, Palem Srikanth, on its advisory board.

Recent history[edit]

In 2013 Four Soft Ltd sold its core IT solutions[buzzword] business and its stake in all its foreign subsidiaries to the UK based Kewill group for a consideration of $43.4 million [1]. Subsequent to the sale of business it has changed its name from Four Soft Ltd to Palred Technologies.

In 2014 it has invested in LatestOne.com, an e-commerce company and online retailer of mobile and technology accessories.[3]

In October 2015, Palred Technologies reduced 60% of its exiting equity capital by returning Rs 16.50 per share to shareholders.[4][5]

In March 2017, the company said in a statement that it raised Rs 22 crore (U.S. $3.34 million) in its latest round from investors including Matthew Cyirac, former co-head of Blackstone's private equity business in India, Ashish Dhawan, founder of Chrys Capital, K.Madhavan, joint managing director of Star TV India.[6] The funding is intended for expansion through investment in additional infrastructure and brand building.[7]

Description[edit]

Palred Technologies Limited is the parent company of Palred Online Technologies Pvt. which owns LatestOne.[8] The company operates mainly in eCommerce, information technology.[9]

References[edit]

  1. "Palem Srikanth Reddy, CMD, Palred Technologies Ltd". India Infoline. 19 July 2016.
  2. 2.0 2.1 2.2 "Company History Palred Technologies". India Times.
  3. "Palred Technologies Ltd". The Wall Street Journal.
  4. "Palred Technologies locked upper circuit post relisting". Business Standard. 7 October 2015. Retrieved 3 June 2018.
  5. "Last day of trading for Palred Technologies". The Hindu. 6 July 2015. Retrieved 3 June 2018.
  6. "Meet India's busiest angel investors of the first half of 2017". VCCircle. 28 July 2017.
  7. "Palred Tech raises Rs 22 crore from Florintree". India Times. 14 Mar 2017.
  8. "Palred Tech invests Rs. 30 cr in e-commerce portal LatestOne". The Hindu – BusinessLine. 12 April 2017.
  9. "Financials and statsPalred Technologies Ltd". Morning Star. 13 January 2013.


This article "Palred Technologies" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Palred Technologies. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.


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