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Trimax raises $10 Million in Series B Financing
By siliconindia
Mumbai: Private equity firm Zephyr Peacock India Fund has invested $10 million (
45 crore) in Trimax IT Infrastructure and Services, a Mumbai-based IT services firm, for an undisclosed minority stake. Trimax offers services in systems integration, data centre services, and IT infrastructure management.
Trimax will use the funds to strengthen its team by 1,000 to 3,000 people over the next six months, and to launch its operations in countries such as Singapore, Sri Lanka, Bangladesh and Nepal.
"We are looking at working with telecos where we could be service providers and they could do the customer front-end," said Chairman and Managing Director Surya Prakash Madrecha.
Trimax, a 15-year-old firm, already claims at least 1,000 clients, including telecom firms like Bharti Airtel, Tata Teleservices (Maharashtra), BSNL, MTNL, GTL and Indus Bank.
Trimax is poised to grow at faster than 40 percent over the next two years, up from 34 percent in the past three-four years, Zephyr Managing Director Mukul Gulati said. "More importantly, the earnings will grow faster than revenues because margins are getting better. Its Ebitda (earnings before interest, tax, depreciation and amortization) is increasing by 50 percent," said Gulati.
The Trimax deal, Zephyr's first in the country's IT infrastructure space, comes at a time when investments in local IT services firms have been slipping, mainly because of a slowing in the sector's mainstay export business. According to researcher, investments in IT services firms have declined to four deals worth $117 million in the first nine months of this year, compared with six deals worth $280 million in the same period last year.
45 crore) in Trimax IT Infrastructure and Services, a Mumbai-based IT services firm, for an undisclosed minority stake. Trimax offers services in systems integration, data centre services, and IT infrastructure management.
Trimax will use the funds to strengthen its team by 1,000 to 3,000 people over the next six months, and to launch its operations in countries such as Singapore, Sri Lanka, Bangladesh and Nepal.
"We are looking at working with telecos where we could be service providers and they could do the customer front-end," said Chairman and Managing Director Surya Prakash Madrecha.
Trimax, a 15-year-old firm, already claims at least 1,000 clients, including telecom firms like Bharti Airtel, Tata Teleservices (Maharashtra), BSNL, MTNL, GTL and Indus Bank.
Trimax is poised to grow at faster than 40 percent over the next two years, up from 34 percent in the past three-four years, Zephyr Managing Director Mukul Gulati said. "More importantly, the earnings will grow faster than revenues because margins are getting better. Its Ebitda (earnings before interest, tax, depreciation and amortization) is increasing by 50 percent," said Gulati.
The Trimax deal, Zephyr's first in the country's IT infrastructure space, comes at a time when investments in local IT services firms have been slipping, mainly because of a slowing in the sector's mainstay export business. According to researcher, investments in IT services firms have declined to four deals worth $117 million in the first nine months of this year, compared with six deals worth $280 million in the same period last year.
