Globsyn, Samsung JV on expansion in Asia-Pacific region

NEW DELHI: The Delhi-based Globsyn Technologies has formed a joint venture

with Samsung Data Systems, Korea to set up 11 training institutes in the

Asia-Pacific region. The first center will be set up in Singapore shortly.

Samsung Data Systems' is the training arm of the Samsung Group.

While Samsung will undertake marketing efforts, Globsyn will be responsible

for providing the content and faculty. This will be Samsung Data Systems', first

foray into the overseas training market. Globsyn, on the other hand, has a

presence in Dubai.

Giving no further details of the alliance, Bikram Dasgupta, Chairman and CEO

of the company said that the MoU to this effect had been signed, and the firm

would make a formal announcement shortly.

Globsyn Technologies provides high-end IT training to professionals under the

branded product line called TechnoCampus. It also has another product line

called Knowledge Pubs that caters to the generic IT-training needs of people.

With around 11 centers across the country, Globsyn is now eyeing the

lucrative Asia-Pacific market. The move comes in the backdrop of the recent

setback suffered by the firm in its IPO venture.

The failure in the IPO has now forced Globsyn to chalk out alternative means

of growth and one of the possible options that is being actively considered is

the acquisition process. "We have ruled out an IPO for the time-being as

there is no dearth of funds," said Dasgupta.

Another area that the company is actively exploring is increasing its share

of outsourcing business. With the US economic slowdown, firms are now are

willing to give small and medium-sized contracts. This will provide

opportunities for Indian firms, he added.

Though there is an enormous opportunity, it is limited only to small

corporates. At a time when most firms are cutting costs, larger public limited

firms cannot afford to accept small projects, as it would further affect their

bottomlines, added Dasgupta.