Tecnova India announces the sale of its IT and BPO business

Company News

NEW DELHI,August 8

Tecnova India Private Limited, a consulting firm which specializes in cross border entry and outsourcing for US and European clients announced divestiture of their IT services and BPO business on August 6 .

Commenting on the development, Mr. Abhey Yograj, Chairman and Managing Director of Tecnova India Private Limited said, “We have been considering this move for some time since a conflict of interest was developing between our Consulting business and execution of IT and BPO projects. Our clients expect us to identify the best of class vendors for them and we could not do justice to such requests if we continued to operate in these areas.”

We have now received a large outsourcing request from a French Agro company to identify and manage vendors for a SAP implementation project exceeding 60 million Euros. This contract validates the business wisdom of divestiture”.

Adding to this Mr. Sujay Sengupta, VP of Tecnova KPO said “This move has enabled us to divest the commoditized part of our business which was increasingly coming under margin pressures”.

Mr. Ajay Muttreja, Chief Executive and Director of Tecnova commented, “With the accelerating FDI into India, we have seen a very rapid increase of our revenue growth. The consulting business grew more than 100% last year with the addition of 35 new clients. This includes Fortune 1000 companies such as Johns Manville (Warren Buffet Group Company), Danaher, Arc International and Autoliv.”

It allows us to focus on our core proficiency in consulting and market research and this will significantly improve our profit. The restructuring exercise will enable us to service our clients better with a more focused approach. Our clients 60% of which are Fortune 1000 companies expect very high level of service commitments from us.

We are making significant additions to our management team and intensifying our training efforts to build high caliber cadre of consultants. To meet our expansion need we have shifted to a new 30,000 sq. ft. facility in Gurgaon”.

For more information, please contact:

Nupur Mehta

GreenThumb

Ph. No. 011- 4172049597 / 9871227811