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The investment indicates a strategic intent to support high-end knowledge-related services and work with companies with depth and focus in niche areas.

New Delhi , Sept 6

MR Raman Roy and his senior team which quit Wipro Spectramind earlier this year have decided to acquire 40 per cent strategic stake in Annik Technology Services, a market research services and analytics company with revenue of over $3 million, for an undisclosed amount.

"My team and Ihave made this investment in our personal capacities. I hope to participate in multiple things including incubation, and this investment in just one piece of the overall plans. By investing in Annik Technology Services, I hope to participate in the board and take the company to the next level of growth. I believe this will be mutually beneficial relationship and together we can create a strong knowledge services company," Mr Roy said.

Mr Roy, who is referred to as the father of BPO industry in India, has successfully led the BPO operations of American Express, GE, and most recently, Wipro Spectramind.

The investment indicates a strategic intent to support high-end knowledge-related services and work with companies with depth and focus in niche areas.

Annik, founded by Mr Rahul Sahgal, specialises in the survey market research and data analytics domain.

The company helps global organisations with the execution and analysis of their survey research requirements, along with the development of tools related to data warehousing, data mining and analysis.

Mr Roy's team includes Mr Raj Dutta, former CFO of Wipro Spectramind, and Mr Raja Vardarajan, former HR head of the company, among others.

"My overall plans are in the formative stages and I will make an announcement in 4-5 weeks. We are in advanced stages of discussion with potential customers and partners," he said, adding that venture capital was one of the options he was looking at.

Commenting on the acquisition of stake in Annik Technology Services, Mr Rahul Sahgal, CEO and President, said: "Our domain knowledge coupled with Mr Roy's and his team's background of creating and scaling quality organisations gives us a competitive edge that will allow us to grow Annik with new and existing customers."

Along with Mr Roy and his team, Mr Vikas Srivastava, Managing Partner of Luthra and Luthra (chartered accountants), and advisor to Annik for the past few years, is also investing in the company.

With two locations and over 230 employees, Annik currently supports companies in the US, Europe, and Australia.

In addition to domain knowledge, Annik works with various clients in reducing costs associated with conducting and analysing primary research.

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