Financial Daily from THE HINDU group of publications
Friday, Sep 26, 2003
Financial Daily from THE HINDU group of publications Friday, Sep 26, 2003 |
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Info-Tech
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IT-enabled Services Mensamind to invest $12 m in ITES arm — E&Y mandated to chart financial plan Our Bureau
Mr Ken Kinsella, CEO and President, and Mr Prasanna Sivadas, Executive-Documentation of Mensamind, are in a discussion at the Mensamind office before the press conference in Hyderbad on Thursday. - A. Roy Chowdhury
Hyderabad , Sept. 25 MENSAMIND Inc, the US-based technology services provider, which has acquired the Indian facilities of Divine Inc, located at Hyderabad and New Delhi, has drawn up plans to invest about $12 million here in its IT-enabled services arm, which has been christened Mensamind OneWorld. The company's new facility in Hyderabad was expected to help strengthen the global network and customer management capabilities to support the company's growing global business, Mr Ken Kinsella, its President and Chief Executive Officer, said. Addressing a press conference here on Thursday along with Mr Rao Tummalapalli, its Managing Director, and Dr Gobind Baghasingh, Director-Operations, Mr Kinsella stated that the company had also enlisted the services of consultants — Ernst & Young, to chart out its overall financial strategy, which was particularly important given the role the Indian facility will play in the company's global operations. Mr Kinsella said "we chose to locate our OneWorld centre in Hyderabad because of its importance as a major technology hub and the availability of strong local talent. In addition, India is the largest outsourcing destination point outside the US". " Our new OneWorld service centre will create a single point of contact for customers worldwide by integrating key resources, technology and proprietary know-how to our growing customer base." The company, which has invested about $12 million already in the Indian infrastructure, has also formed strategic alliances in the US, the UK and Europe with some business technology firms to offer a host of technology services. This will be in the areas of proprietary and patentable strategic services, digital asset lifecycle management services, technical support and telemarketing for software products, transactional processing in the areas of legal, finance, human resources, engineering and healthcare. Mensamind Inc, the Chicago-based holding company of its 100 per cent owned Indian subsidiary, was carved out from the assets of Divine Inc's Indian facilities after the latter filed for Chapter 11 filing in the US. Having a capacity to host about 500 people in its two facilities in Hyderabad, the company planned to embark on a rapid recruitment drive and was also eyeing possible strategic acquisitions, Mr Kinsella said.
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