Techbooks eyeing buys in India, U.S
By agencies | Monday, 27 March 2006, 08:00 Hrs
NEW DELHI: Within a year of completing the takeover of Maximize Learning, Techbooks is on the prowl again eyeing acquisitions in India. The U.S. Techbooks, a Knowledge Process Outsourcing (KPO) company, is on the lookout for companies specializing in services such as content IT and litigation support or have customers in verticals including pharmaceutical and healthcare industry. The company plans to invest about $5-7 million this year to augment its capacity in India. Announcing this, Techbooks, CEO, Ranjit Singh said, For acquisition we will consider companies with revenues of $10-20 million. We hope to complete a buy-out this year. The company plans to finance the acquisition through a mix of internal accruals, equity and debt, he said. Previous year, the company acquired Maximize Learning, a provider of advanced e-learning solutions, with development and production resources based in Pune. Singh said that the company would add 1,000-1,500 professionals to India operations this year. Currently, Techbooks employs 3,000 at its facility in Delhi, while its Pune facility has close to 450. We are nearing the optimum capacity in our existing centers and plan to establish a new facility in a location where we can attract talent, he said. The company is however not planning to address the domestic market as yet. "We find that a huge opportunity with our existing and new clients and we are currently concentrating on markets like the U.S., Europe and Australia," he added.