The Hindu Business Line : Exensys revamping operations

EXENSYS Software Solutions Ltd, technology solutions provider with operations in India, US and Saudi Arabia, has embarked on a restructuring exercise.

The company will set up a centre in Singapore to tap the South East Asian market for enterprise solutions while creating a separate team for tapping the domestic business.

The Managing Director of Exensys (extended enterprise solutions), Mr Mohammed Shams Qamar, told Business Line the restructure process would be completed by this fiscal.

The company has assumed this new name based on its flagship enterprise product, Exensys. Earlier, it was functioning as Holool (which means solutions in Arabic).

"We are in the process of charting out our business and investment plan and have enlisted the services of a consultant, Trade Capital. By the end of this year, Exensys plans to invest about $4 million (about Rs 18 crore) in its expansion. The headcount will also be doubled by year-end," he said.

Founded in 1999 in Saudi Arabia and backed by a development centre in Hyderabad, the company has grown from 23 people in 2001 to 35 (2002), 75 (2004) to 460 in 2005.

"With revenues of $7 million (about Rs 33 crore), we plan to move on to next growth phase based on this realignment and restructure of operations. To part fund this expansion, we are in the process of considering a private placement of equity. Given the strategic direction we expect to take, we may even consider a public offer either later this year or some time next year," he said.