February 26, 2005
Ontrack Systems Ltd is planning to acquire business process outsourcing units in the UK and Holland for Rs 20 crore (Rs 200 million) and would raise funds overseas to finance the acquisition.
The units, based in Holland and UK, are engaged in delivering technical services, Ontrack Systems' CEO B Hari said.
Asked about the company's financial performance, Hari said that till December, Ontrack posted a turnover of Rs 18 crore (Rs 180 million).
In the previous year, the company's turnover was Rs 22.5 crore (Rs 225 million).
Ontrack also owns and manages India's first online tendering portal 'www. tendertimes.com', he said, adding the portal would also start reverse auction soon.