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Peak closes India operations

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CIOL Bureau
New Update

HYDERABAD: Crippled by the slowing economy in the US and handicapped by poor

high level management, Peak Information technology has closed down its

operations in Hyderabad. The parent company of Peak Information, Peak IT Inc, is

based in the US.

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"After accomplishing something in this country, I wanted to share my

experience and investment for a good cause, but all went in vain," said

Dharmender Matha, president, Peak IT Inc.

"I tried more than one and a half years and invested close to a crore in

the Indian company, but it is sad that it had to be closed. The time and money

invested will not come back as the hope of continuing the company operations has

ended," explained Matha.



Peak started its Indian operations about two years ago in Hyderabad with an aim
of providing services and products to business enterprises in Data Management

and Data Warehousing Technologies. The company had a work force of more than 20

for its Indian subsidiary.

It has become common these days, companies with base in the US are facing

problems with their Indian subsidiaries because of the slowdown in the IT

spending. Mostly, the companies are either laying off heavily or shutting down

operations.

Peak’s US operations have remained unaffected. "Inspite of the US

economy, we are still moving with a strategy in the US, which would

sustain," Matha said.

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