ESys Technologies explained

eSys Global
Type:Public
Foundation:Singapore
Founder:Vikas Goel
Location Country:Singapore, Sri Lanka
Area Served:Worldwide
Industry:Consumer electronics

eSys Technologies is a distributor of Internet technology components.[1] and by 2011 had more than 300 employees.[2] It is a subsidiary of EZY Infotech Pte Ltd and in 2007 had $1.7 billion in annual revenues.

History

eSys Technologies was founded by Vikas Goel in 2000[3] who serves as Chairman and CEO.[4] In 2005 the company's sales were almost $2 billion and they had established 112 offices across 33 countries.[3]

Later the company partnered with Seagate Technology for product distribution in the US, Canada and Latin America. At that time, eSys covered 25 countries in Europe, Asia, Americas and Australia via a network of subsidiaries.[5] However, in 2006 Seagate Technology ended its distributorship relationship with eSys Technologies after it denied Seagate Technologies the right to conduct a third party audit of its accounts.[6] According to Seagate Technologies' 2006 third quarter financial filings, eSys Technologies owed them $50 million in distributorship fees, at that time.[6] That same month eSys Technologies announced a global distribution agreement with Samsung[7] and reported to have 117 offices in 38 countries.[7]

By 2007 the company had established four manufacturing facilities to produce its own retail products.[3] It maintained distribution hubs in Singapore, New Delhi, Dubai, Los Angeles and Amsterdam[3] and had $1.7 billion in annual revenues.[8] In 2011 eSys became the exclusive distributor of products manufactured by Transcend Incorporated.[2] [9]

The company is a subsidiary of EZY Infotech Pte Ltd. which has headquarters in Singapore plus branches in Australia, Bangladesh, India, Canada, Hong Kong, China, Croatia, Japan, Korea, Malaysia and Latin America.[10]

Notes and References

  1. https://indianexpress.com/article/cities/chandigarh/accused-of-violating-allotment-rules-esys-contradicts-its-own-claim/
  2. News: Staff writer. Transcend partners with eSys Technologies.. https://web.archive.org/web/20140715115659/http://www.highbeam.com/doc/1G1-273304962.html. dead. July 15, 2014. July 12, 2014. Daily News (Sri Lanka). November 25, 2011.
  3. News: Stack. Jack. My Awakening. July 14, 2014. Inc..
  4. News: Staff writer. Vikas Goel. https://archive.today/20140717183032/http://investing.businessweek.com/research/stocks/people/person.asp?personId=32852366&ticker=TLDI:IN. dead. July 17, 2014. July 14, 2014. Business Week.
  5. Unknown date and author Seagate Expands Existing Distribution Relationship With eSys E-Channel News
  6. News: CIO Staff. Seagate Cans Distributor for Blocking 3rd-Party Audit. July 14, 2014. CIO. Nov 8, 2006.
  7. News: Press Release. eSys Technologies and Samsung sign global distribution agreement for Hard Disk Drives.(Samsung Electronics Company Ltd.. https://web.archive.org/web/20140715133855/http://www.highbeam.com/doc/1G1-154327128.html. dead. July 15, 2014. July 14, 2014. Middle East. Nov 13, 2006.
  8. News: Singapore Trails Hong Kong in Diversifying Economy. July 14, 2014. Bloomberg. March 13, 2007.
  9. News: Staff writer. Transcend partners eSys Technologies. https://web.archive.org/web/20140715091541/http://www.highbeam.com/doc/1P3-2520787181.html. dead. July 15, 2014. July 14, 2014. The Sunday Observer. Nov 27, 2011.
  10. News: Staff writer. Snapshot. https://archive.today/20140717183016/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=22613137. dead. July 17, 2014. July 14, 2014. Bloomberg Businessweek.