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Neoteric Confirms Exit From IT Distribution Business

Neoteric Infomatique, one of the prominent IT distribution companies in India that has been in business for the past 25 years, has confirmed its exit from the IT distribution business.

It is speculated that by the end of July, it will close down its IT distribution operations across the country. However, the company said in a statement, it ensures a safe future for its employees.

“We are trying to ensure almost all Neotericians are well-placed and reviews are being conducted on a weekly basis to achieve this goal. Actions such as requesting other fellow distributors, vendors, other service providers or channel partners to look at them as possible talent are already mooted,” according to the official statement by the company.

The clarification also said that Neoteric will continue putting efforts to ensure 100 per cent of its members are placed and are comfortable. What is next in for Neoteric will be revealed soon, as of now all energies are focused to achieve a seamless and win-win closure.

The IT hardware distribution business in the country is going through tough times. Where some distributors are surviving on thin profit margins, many national and regional distributors have now moved into the solutions and services space.

Neoteric is one of the first distributors to enter into the services business. The distribution house acquired a number of solutions and services in recent years and associated with some of the leading global brands in the services space. There are speculations in the market that aggressive acquisition strategy of the company had hit its distribution arm. (Read full story here)

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