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Our Bureau

Chennai , Oct. 6

Take Solutions Ltd announced on Friday its joint venture with W J Towell & Co LLC, part of the Towell group, a large conglomerate in the Middle East with headquarters in Muscat.

Towell-Take Solutions LLC would be based in Muscat and would cater to the Middle East and African region. Mr H.R. Srinivasan, Vision Holder, Take Solutions, told Business Line that the joint venture would Take Solutions' products to the markets that W J Towell is strong in.

Take Solutions is one of the large IT companies with products in `supply chain management' and `life sciences' areas. Mr Srinivasan said the company's products were doing well in the Asia-Pacific and US markets - the company's turnover this year is expected to rise to not less than $ 45 million (Rs 200 crore) from $ 23 million (Rs 100 crore) last year.

He said that the Middle East and Africa combined was a large market. The joint venture is capitalised at Rs 2 crore.

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