Financial Daily from THE HINDU group of publications
Wednesday, Sep 24, 2003
Financial Daily from THE HINDU group of publications Wednesday, Sep 24, 2003 |
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Info-Tech
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Software SoftPro to exit call centre biz — Forms consortium with 8 cos to offer solutions Our Bureau
Hyderabad , Sept. 23 SOFTPRO Systems Ltd, the Hyderabad-based software services provider, has formed a consortium with eight other services companies, to offer a suite of solutions for prospective corporations scouting for strategic partners. The company has also decided to sell its 26 per cent stake in Cell World, a voice-based call centre based in Hyderabad, that the company had acquired stake from Frontline Soft Ltd, last year. The President and Chief Executive Officer of SoftPro Systems, Mr Venkata Rao Mallineni, and Director, Mr A. Mallikarjuna Rao, said that "with the call centre business under pressure, we have decided to exit this business by selling our stake to a strategic investor." The company had acquired 26 per cent stake in the call centre, which hosts about 120 people, for Rs 1.8 crore. "We are confident we will be able to receive the money we had invested in this call centre venture." "The reason we decided to exit from call centre business was to retain focus on our core areas of business of systems integration. This consortium, which we entered into with Ananth Technologies Ltd, CoOptions Technologies Ltd, Strabus Systems Ltd, Sugathi Info Ltd, Suvision InfoTech Ltd, Temple Technologies Ltd, Web Prodigies Pvt Ltd, and Brahma Solutions, increases the bandwidth of solutions we could collectively offer to our global clients by pooling in our resources, particularly in the South East Asian region," Mr Rao Mallineni said. The Promoter and Managing Director of SoftPro Systems, Mr Chand Akkineni, said that the company planned to grow the enterprise solutions group primarily focussing on delivery of collaborative and business intelligence solutions for automotive, manufacturing, and utilities. The company has projected revenues of Rs 6 crore this fiscal.
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