Satyam's BPO arm gets $20 mn

BANGALORE: Nipuna Services, the BPO subsidiary of Satyam Computers, has attracted fresh investment of $20 million from Intel Capital and Olympus Capital Holdings, Asia. The investment arms of Intel and Olympus are infusing funds in two rounds and will completing the investments by the year-end. According to company officials, both the investors are being offered preferential shares, which can be converted into equity shares after three years.

Olympus Capital will appoint Dilip Kothari, an Olympus Managing Director based in Singapore, to the Board to help Nipuna develop financial services client opportunities.

Nipuna Services was established in June 2002 by Satyam to provide BPO services and is currently serving 6 customers. Ramalinga Raju, Chairman, Satyam, said, "We are very happy to have Olympus Capital and Intel Capital invest in Nipuna to further the company’s plans for growth and development. The investment will give Nipuna access to these new investors’ global network."

Frederick Long, Founding Managing Director, Olympus Capital Holdings Asia, commented, "We believe Nipuna is well-positioned to serve customers in financial services and industrial sectors because of the combined strengths and expertise of the shareholders and the opportunity to leverage Satyam’s existing global customer base."

"IT outsourcing plays a key role in any company’s strategic direction," said Kumar Shiralagi, Managing Director of Intel Capital India. "Intel Capital invests in companies like Nipuna Services as we believe this business opportunity will assist in the acceleration and growth of the e-business industry."