BANGALORE: Singh has been replaced by Ranjan Chak of Oak Investment Partners, the venture capital company that has pumped in around $71 million so far in Talisma, an offspring of Aditi Technologies. Chak joined Oak as a venture partner after quitting Oracle India last week. Singh will focus attention on his other job as CEO of Aditi Technologies. "Talisma will utilise the capital infusion to support the company's aggressive product development efforts and step up sales, marketing and customer service initiatives," a statement from Talisma said. Oak's investment has considerably reduced Singh's stake in the firm, which has not seen any major product additions to its line during the recent past. Industry assessments show that businesses would be spending over $76 billion on e-customer services by 2005. The Gartner Group expects 70 percent of all call centres to feature Internet integration by 2007. Over 67 million people are expected to use the chat mode for service in 2005 according to Jupiter Media Metrix. Singh handed over charge of the management of the company to Dan Vetras, CEO. "The latest funding is a major vote of confidence from the investor community, particularly given the current investment climate. Oak's commitment to lead the equity round is a powerful endorsement of our leadership in the space." "I am pleased with the continued success of Talisma," said Singh. "The company continues to execute its strategy and deliver solutions that maximise the lifetime value of customer relationships." Chak helped start up Hewlett Packard (India) and, in 1994 joined Oracle Corporation as VP, India operations, to create one of the most successful offshore development centres in India. Talisma's global customers include Microsoft, Coast Capital Savings, Sony, Click 2 Learn, MWB, Aviva Life Insurance Company India, HGTV and Dell. The company is based in Seattle, with offices across the U.S., Europe and Asia.
Source: IANS