Absolutdata in talks with PEs for expansion

Surabhi Agarwal
Posted: 2008-08-09 00:54:21+05:30 IST
Updated: Aug 09, 2008 at 0054 hrs IST

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New Delhi, Aug 8: Absolutdata Research and Analytics, a US centric global consulting, market research and analytics firm is in talks with private equity players to fund its future expansion plans. The company, which had revenues of $10 million, is looking at private equity investment in the firm to the tune of $5 million. “We are looking at funding for the company and are in initial talks with some of the private equity players,” said Anil Kaul, CEO, Absolutdata Research and Analytics.

Apart from other plans, the seven-year old company is increasing its focus on India. Kaul expects the company's India operations to contribute 20% to its revenues by the end of next financial year. Right now, the share of India operations is less than 5% as a major chunk of its revenues come from US. “Going forward, we expect US to contribute 70% to our revenues with India constituting 20% of the share while the rest 10% will come from other destinations like Europe, Middle East and South East Asia which are increasingly getting attractive,” said Kaul. The company plans to formally launch its India operations in September this year and has just floated its online panel (for surveys) for India. A majority of the company's clients are in the financial services and the FMCG space. “Indian companies are getting increasingly receptive towards data analytics and market research as competition is increasing and everyone wants to be at par with the global standards,” said Kaul. Absolutdata Research and Analytics added 14 clients this year with 7 of them being Fortune 500 companies.