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Anil Ambani nurturing Tech Reliance
By siliconindia
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Friday, 04 January 2008, 00:09 IST
Hyderabad: Anil Dhirubhai Ambani Group (ADAG) is planning to launch a technology consultancy services provider company called Tech Reliance. The company is set to make a splash shortly, reported Business Line.
The ADAG group is growing this less known company at a rapid pace and expects to pitchfork it into the top-five league within two years. Tech Reliance has four centres. The development centre in Hyderabad focusses on $100 billion IT consulting and services and infrastructure management. This arm would build on the group synergies, including FLAG.
According to sources, Anil Ambani, Chairman of ADAG, is armed with a chest of $2 billion that would help the company virtually compress time and leapfrog into the big league.
Traditionally, Reliance has grown its businesses and expects to do so with Tech Reliance. However, some of the missing pieces of the technology services could be bridged through some acquisitions too, according to sources.
According to sources, Anil Ambani has personally handpicked a team of IT professionals to lead this initiative which includes current employees working in Reliance ADAG. The company is in the process of attracting talent from some of the leading consultancy firms.
A Reliance spokesperson refused to comment on the development. He said "The group continuously explores avenues for enhancing value for our stakeholders". A formal announcement about Tech Reliance is likely soon.
