Binary Semantics plans expansion

NEW DELHI: New Delhi-based Binary Semantics is setting up another software

development center in Gurgaon at an approximate cost of Rs 8 crore. With an area

of 25,000 sq. ft., the center will be operational by the first quarter of 2000.

The company intends to recruit additional 250 employees to its existing strength

of 250 during the next year.

Binary Semantics, which has basically been focusing on the US market, is now

turning its eyes on the European market as well. It will soon set up an office

in Switzerland, which will handle the marketing and provide support services to

the European market. Initially the company plans to hit the European market with

its services. The company is also scouting for markets in South-East Asia, and

the next stop may be Japan. There are also plans to make strategic investments

in companies overseas while in the domestic market the company intends to go in

for acquisitions, though the plans are yet to be firmed up, said Binary

Semantics Managing Director Akhil Choudhary.

The company has increased its array of tie-ups to distribute software

products. Some of the recent tie ups include QMS, Palisade and Maple. It has

bagged orders from ACC and Emami, each worth Rs 4 lakh each, for another set of

products it deals with for Lindo.

The company also plans to expand its business channel for the distribution of

its products Radical (an ERP package), PerQ (a payroll package) and Symphony (an

Internet applications suite). It is looking for partners with technical

capabilities so that they can scale up to implementing and providing technical

support as well. It also plans to add to the product portfolio and include the

CRM module in its existing products.

The break-up of the company's current revenue generation is 65% from its

distribution tie-ups and 35% from own products and services. The company plans

to increase its revenue generation from its own products and services to bring

the ratio to 50:50 by 2001.