Business   

Datamatics to invest $5-10m in JV

MUMBAI SEPT. 18. Datamatics will invest $5-10 million in the U.S.-based White Label, a joint venture formed with Mariner group of the U.S., to provide consultancy for IT global sourcing strategies. Datamatics would hold 51 per cent stake in White Label while the Mariner group would invest $3-5 million in the JV.

"We expect revenues of $10-15 million in the first year of the JV's operations," Datamatics Managing Director, Rahul Kanodia, told PTI here today.

Datamatics signed the joint venture agreement on September 9 and expected 70 per cent of business to accrue to the Indian entity, Mr. Kanodia said.

White Label would focus on high level strategic consulting and rope in chief executive level professionals to assist clients in designing global strategies, he said.

Prior to signing the JV pact, Datamatics has already executed two projects through White Label for Western Union and Carnival Cruises, he said.

PTI

Printer friendly page  
Send this article to Friends by E-Mail

Business

News: Front Page | National | Southern States | Other States | International | Opinion | Business | Sport | Entertainment | Miscellaneous |
Advts: Classifieds | Employment | Obituary |

Stories in this Section

• Global economy: IMF sees signs of recovery
• Export Cell linked to portal
• 101 point drop in Sensex
• Hyundai dealer service branch
• Rupee slide continues
• Financial Times to pick up stake in Business Standard
• IT solution for tackling fakes
• Connect 2003: BPO takes centre stage
• RIBs redemption: `no major impact on forex market'
• Oberoi to go beyond hotels, resorts
• Tatas apply for more basic telecom licences
• Datamatics to invest $5-10m in JV
• Corporation Bank's special camp
• Union Bank ties up with Ford Motors
• Stock Market Index
• Exchange rates
• Bullion rates

Copyright © 2003, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu