BSE listed applications company Geodesic Ltd is looking to add to its product portfolio with the acquisition in the communication and social networking space; a company with "offices globally". The companys board has given the approval, and Geodesic MD Kiran Kulkarni told MediaNama that the acquisition should take 3-4 weeks. He declined to name the company in question, or speculate on the amount that Geodesic is looking to spend, since they have signed a Non Disclosure Agreement, and negotiations haven't been completed. Rationale Behind The Acquisition Kulkarni said that unlike the acquisition of Uruguay based Interactive Networks Inc, which was about market entry and telecom operators, this one is "in the retail space". The INI acqusition gave the company access to 12 major carriers across South America, Africa and Asia. "Telecom Operators are increasingly focusing on VAS and social networking appears to be an important proposition for everyone." The acquisition is also being seen as assisting in entering new markets; Kulkarni said that "combing that product opens up another pocket to address. We already have a retail play, and our mobile applications are being downloaded by people. It's a different take from Instant Messengers, and a consumer facing application, with the possibility of entering the telecom operator space. Social Networking is important, and has become a means of communication. It's not just restricted to teens but also 25 years and above - the paying population." Our Take While Kulkarni wasn't specific about the type of application or the geography, it appears that the…
