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Vishwanath Kulkarni

Bangalore , Nov. 10

SYNTAX Soft-Tech (India) Pvt Ltd, the Bangalore-based IT firm is looking at offloading close to 30 per cent of its equity in favour of its US-based partner. Mr P. Prashant, Director, Syntax said the company was in talks with its US partner and would decide on offloading its equity soon.

The company, which hitherto focussed on marketing shrink-wrapped software products and developing proprietary solutions, has recently forayed into the services space even as it is consolidating its domestic operations.

Syntax had bagged its first deal of $2.4 million in the services space from the US-based healthcare and manufacturing firm, Mr Prashant said, adding it would put in place a team of about 100 IT professionals over six months to service this client.

"We are currently hiring aggressively," he said adding that the company was also looking at focussing on other verticals such as the banking, financial services and insurance. "We are running a couple of pilots for various clients, and expect them to convert into deals soon," he said.

The company, which clocked revenues of Rs 3.75 crore last year, expects to close the current year with Rs 16 crore, the bulk of which would come from its services business. "We are looking at Rs 9-10 crore from our services business this year," said Mr Srivatsa S, Director, Business Development.

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