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Tarang to focus on European, Asian markets
Anubha Ghosh
Bangalore : The Bangalore-based Tarang Software Technologies, which had recently started its US operations, on Monday announced a shift in focus towards European and Asian markets (primarily Japan), which can offer better prospects in wireless technologies. The company's chairman and CEO Rama Kumar told The Financial Express on the launch of its Rs 3 crore facility in Bangalore, "we plan to open three branch offices with two in Europe and one in Japan over the next 90 days. Europe will be divided into two segments, the Scandanavian countries, and Germany along with the rest of Europe. On the US slowdown, Mr Kumar said the downtrend will help us to differentiate from the rest."US companies which are onsite centric would like to forge alliances with us following our strong development facility in India," Mr Kumar said. Further, he said the times of Indian companies taking project work and making a killing were over. Its only the specialised companies offering outstanding value proposition and strong domain knowledge and strengths in solving customer problems who would be able to make headway in the US markets. Flush with funds worth around Rs 30 crore as of March 2001, the company is eyeing acquisitions of those companies which did not receive the second round of funding and have strong teams or domains in place. Alliances in the area of wireless and CRM were also on cards, Mr Kumar said. After the initial funding from Global Internet Ventures and promoters stake accounting for nearly $5.5 million, GIV, WestBridge Capital co-invested $2 million in the venture. Tarang launched its operations in October 2000. It has 220 people on board of which 24 per cent of the engineers are fromIITs. Its business activities revolve around the wireless space including technology and devices as well building the CRM applications. Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.
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