The Hindu Business Line : Automated Workflow goes for equity swap with Silicon Plain

AUTOMATED Workflow Pvt Ltd, a Bangalore-based business process management (BPM) solution vendor, has gone in for equity swap with Silicon Plain Technologies (SPT) as it seeks to tap the North American market for its solutions. SPT is one of IBM's premier business partners specialising in consulting, sale and implementation of content management and business process management solutions.

"The equity swap with SPT would be at par," said Mr Sunil Savara, CEO, Automated Workflow, even while declining to quantify the stake that would be exchanged. "It is significant but not controlling," he said. SPT, which clocked revenues of $6 million last year, is targeting revenues of $10 million for the current year.

As per the agreement Automated Workflow, which has built its products on IBM WebSphere platform, will be co-branding its BPM products with SPT for the US market. "We are assured of a committed business flow of $12 million over the next three years," Mr Savara said adding the net earnings form this joint initiative would be to the tune of $5.5 million over the same period.

Automated Workflow, which clocked revenues of less than Rs 10 crore last year, expects to grow its sales by over 100 per cent and is targeting revenue of Rs 20 crore for the current year. Bulk of the sales this year would be coming from the Indian market as the company had several recent wins, Mr Savara said adding, "the company expects to finalise about six deals over the next few weeks." Automated Workflow's clientele in India consists of OM Kotak, Tata Sons among others.

The company has traditionally focussed on the Asia Pacific region and is now seeking to expand its presence in the US. Automated Workflow's product portfolio includes BPM solutions such as Insure.Sphere for insurance companies, CEO.Sphere, Encyclo.Sphere for libraries and educational institutions and Consult.Sphere for the consulting industry. The company is in the process of building BPM products for the banking and the Government sector, he said.

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