Intel buys into Bangalore based Comat for $4 million

Bangalore: Intel has picked up marginal stake in Comat Technology based in Bangalore, making its first investment in e-governance service space. The investment made by Intel is around the amount of $4 million. The company is expected to generate revenue of $10-15 million in FY’07. President of Comat Technology, Sriram Raghavan, confirmed of Intel’s investment.

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Intel’s philosophy is to help rural penetration gather momentum. Comat has been engaged with rural e-governance play of several state governments. Comat, with over 600 employees, started off as an outsource service provider of e-governance project involved with several high-profile initiatives including Karnataka’s Bhoomi Project, which effected digitization of land records in the State.

Over the years, the company has developed as a rural e-governance solutions company undertaking public-private partnerships servicing the consumer needs directly. Comat shares a part of this revenue with the government after retaining a substantial share. The company has currently installed around 800 ICT based kiosks across Karnataka, delivering key government services to the people in rural Karnataka.

Some of Comat’s key projects till date include election ID cards in several states, land records computerisation, social welfare department and food and civil supplies computerisation.