CBSI to expand Indian operations

BANGALORE: Chennai-based Complete Business Solutions India Ltd. (CBS India),

a subsidiary of the $462 million NASDAQ listed CBSI, is setting up an

e-development center in Bangalore. Apart from this, the company is also setting

up development centers in Mumbai and Chennai. CBSI is investing $15 million in

these expansions.

Announcing the company’s partnership with PRAJA, which is all set to launch

its Event Management System, CBSI president and CEO Michael W Bealmear said,

"We have major plans to expand our Indian base. This is the third

development center and we have selected Bangalore for that. Similarly, we are

planning to have development centers in Mumbai and Chennai. Through these

expansions, we are focusing more on offshore development."

CBS India’s partnership with PRAJA will be for testing and expanding the

functionality of the upcoming PRAJA products. CBS India will initially work on

fine tuning several product features and perform quality assurance on PRAJA’s

Event management System.

Speaking about the partnership, CBS India chairman Raj Vattikuti said,

"We are excited about this relationship with PRAJA as it will enable CBS

India to work along emerging areas in Web technologies, like content

distribution to wireless devices." The Bangalore development center alone

will see an investment of $5 million.

CBS India plans to launch a Rs 150 crore public issue in September this year.

"We are planning to go public in September or October this year, if the

market permits. We are doing this to benefit our employees as well as to retain

people", said Vattikuti.

Recently, the company received $200 million venture capital funding from

Clayton Dublis and Rice of the US.