ESRI India completes majority stake transfer to country MD

The India arm of global Geospatial Intelligence Software (GIS) technology provider ESRI has completed the process of majority stake transfer to Agendra Kumar, its managing director (MD) in the country, to comply with the government’s updated geospatial policy.

ESRI India has also started offering GIS solutions from the India market to global clients.

According to the policy that was updated last year, overseas firms in the geospatial solutions space can source such data from Indian companies’ local servers but not own the data if it requires an accuracy of less than one metre.

ET reported last year that
Kumar had started acquiring stakes from the parent company to comply with the policy, which was notified in February 2021.

“I now have 51% shares of ESRI India. This qualifies us to be an Indian company, by the definition of DPIIT (Department for the Promotion of Industry and Internal Trade). So, now ESRI India will be able to obtain a process to disseminate geospatial data of any resolution of accuracy,” said Kumar.

The company does not plan to hit the public markets in the immediate future, he added.

ESRI caters to a large number of government, public sector and enterprise clients for mapping and geocoding solutions. ESRI India caters to over 5,000 government projects comprising over 70% of its revenue base.

In anticipation of the completion of stake transfer, the company has also acquired global clients like Here Technologies,

and Maxar.

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