Vinsys to pursue inorganic global expansion strategy

The company plans to open a new corporate office &training centre in Saudi Arabia before the end of Q2FY24.

It is in talks with mid-size companies in similar lines of business in the regions above. As Vinsys marks its 25th year, the company is also working towards an initial public offering (IPO) that it aims to complete within the current calendar year.

Currently,Vinsys operates in eight countries, including the UAE, Oman, Malaysia, Singapore, Nigeria, Kenya, the UK, and the US. Vinsys boasts a team of over 800 professionals certified by major tech companies and institutions, including IBM, Oracle, Microsoft, Autodesk, and Cisco, among others.

Founded by Vikrant Patil, Vinsyscommenced operations as a boutique training centre for a few IT clients and gradually grew intoIndia's second-largest corporate training firm. However, the company's success is more accurately reflected in its global ambitions, particularly in the Middle East, where it became the largest corporate training player in the region through customised offerings and a series of acquisitions over the past decade.

Commenting on the company’s success, Vikrant Patil, Founder & CEO, Vinsys, said, “We entered into a nascent industry, enabling us to offer clients customised modules as needed. In time, the company has ramped up its operations and invested in world-class training rooms and facilities with the sustained support of its clients, including global IT majors in Pune”.

The company offerscustomised courses for critical sectors such as BFSI, Telecom, and Government departments, where training for IT and processes is essential. The focus on reskilling employees and sustained investments in learning has increased significantly in the wake of Covid, providing Vinsys with an opportunity to grow substantially due to its demonstrated success over two decades and robust client and vendor relationships.

Having trained over 1 million professionals worldwide, Vinsys is looking to double its growth through acquisitions in the coming months, particularly in corporate training and digital learning platforms. Vinsys has already acquired several players in both the Indian and international markets, with a focus on talent and infrastructure.

The core story of Vinsys is accelerating globally, utilising its proven M&A model. The company has demonstrated its capability of acquiring, integrating well, and showing significant progress on top and bottom lines. With a sense of accelerating or scaling up, Vinsys is confident in its ability to capture new growth opportunities. Furthermore, the company's proven track record of successful acquisitions and integration is an attractive proposition for potential targets.

The company has more than five training centres worldwide, most of which are located in India and the Middle East. The pandemic-induced shift to online training has enabled Vinsys to utilise its trainers and rationalise expenses, improving margins efficiently.

With ongoing global uncertainty, Vinsys sees an opportunity to scale its operations and has firmed up its fundraising plans. The company has appointed merchant bankers and legal firms for the purpose of fundraising. For the year ended March 31, 2023, Vinsys achieved a revenue of Rs. 157.30crores and a net profit of Rs. 16.02 crores.

As Vinsys continues to expand its global footprint, it is confident in its ability to execute M&A transactions successfully and efficiently integrate new firms, resulting in sustained growth for the company. “In addition to tapping inorganic growth opportunities, Vinsys is also looking to grow organically”, said Vikrant. “Towards this, the company has already recruited business development teams in the US and is looking to do the same in Europe,” added Vikrant.