D-Link India Ltd's subsidiary Lanner Electronics India Ltd has entered into a joint venture with Mercuries Data Systems Ltd of Taiwan to manufacture and sell a range of automated teller machines in India.
"India is the fastest growing ATM market in the world and is only second to China, and this is one of the primary reasons for setting up a base in the country," D-Link India managing director K R Naik said in Mumbai on Thursday.
The companies have also formed a new joint venture firm -- Mercury Link Systems Ltd -- which would manufacture ATMs at D-Link's facility in Goa.
Mercury Link Systems is also planning to infuse an additional investment of Rs 5 crore (Rs 50 million) in the Goa facility and expects to manufacture and sell around 10,000 ATMs per year, he said.
The new company expects to garner around 15-25 per cent marketshare within the next one to two years of operation, he said, adding the company has plans to service other countries also.
D-Link India had earlier entered into a joint venture with Lanner Electronics of the United States for the manufacturing of ATMs from a facility in Taiwan. D-Link has a 49 per cent stake in Lanner Electronics India Ltd.
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