Financial Daily from THE HINDU group of publications
Thursday, May 18, 2006
Financial Daily from THE HINDU group of publications Thursday, May 18, 2006 |
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Info-Tech
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Off-shore Development Maples opens $12-m facility in Chennai Our Bureau
Chennai , May 17 Maples ESM Technologies Ltd has opened a $12-million (Rs 55-crore) facility in Chennai. The centre has high-end servers like IBM Mainframe, HP, and Sun, and is designed to provide IT services to the company's global clients in "remote IT infrastructure management," according to Mr N. Ram Subramani, Managing Director. The company hopes to report a turnover of $10 million (Rs 45 crore) for the current year from $3 million (Rs 13.5 crore) last year, and raise it to $25 million (Rs 108 crore) in 2007. It has about 750 employees and hopes to double the number by the year-end and increase it to 2,500 by 2007-end, he told newspersons. Mr Subramani, the company's promoter, said last year that he bought over the entire stake in the company from angel investors and other shareholders and also roped in Baring Private Equity. The $3-billion venture capital company invested $4 million (Rs 18 crore) for a majority stake; Mr Subramani refused to reveal details of the stake. The company provides enterprise systems management services on high-end server management.
More Stories on : Off-shore Development | Software
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