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Our Bureau

To offer solutions to mining and utilities companies

Hyderabad March 16 Technology solutions provider iServiceGlobe has announced partnership with Australian asset management company Mincom to offer solutions to mining and utilities companies.

The Managing Director of Mincom, Mr Mike Evans, and the President and CEO of iServiceGlobe, Mr Srini Katta, announced a strategic tie-up wherein Mincom will offer its software and the latter would be the implementation partner in India and possibly the region.

Private Placement

Addressing a press conference here today, Mr Srini Katta said that the company has grown over the last three years and now has total revenues of $10 million. The company plans to increase the headcount to about 300 at their India development centre in Hyderabad.

The company is in the process of raising funds through a private placement and it also plans to enter the capital market with its maiden public offer. However, this could take about a year and a half, Mr Katta said. Mr Mike Evans said that the $200 million corporation, with operations spread across the globe, particularly in the mining and utilities segments, is now keen to tap the market in India.

Immense Scope

Citing data from Coal India Ltd, which has projected that the current coal output of 400 million tonnes would be raised to about 2 billion tonnes by 2025, Mr Evans said that this task would not be possible without increasing automation in mining and logistics business in India. This offers immense scope for a specialised player like Mincom, he said.

"Most of the countries we operate have been through direct presence. However, in India we have decided to partner iServiceGlobe," he said.

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