The Bangalore-based IMO Communications, which promotes indiamarkets.com, isplanning to fund the proposed acquisitions from its equity capital. It hasalready earmarked about $10 million mainly for setting up sales and customerservices network in the country.

"We will soon announce one or two deals to this effect within a couple ofmonths. IMO has also initiated discussions with companies offering servicesto the manufacturing sector for entering into strategic alliances," IMOCommunications managing director Rohan Ajila said.

The proposed alliance with service firms many involve equity participationas well. However, he declined to name the companies which own the verticalportals. The main aim behind the strategic investment is to enhance IMO'sbottomline. indiamarkets.com is also setting up industrial cafes in 70locations which will serve as customer support and e-commerce trainingcentres. These cafes will be utilised by Indian Institute of MaterialsManagement (IIMM), among others, to conduct training sessions for itsmembers and affiliates.

Ajila claims that over 2,500 companies visit indiamarkets.com everyday,generating more than 1.3 lakh hits and over 150 product enquiries. Thesite's registered user-base, which is currently growing at 100 per cent amonth, has reached 13,000 users.

IMO Communications has already received funds from EM Warburg, Pincus & CoLLC and the BPL group. IMO is also planning to expand its workforce to 200people from the present 38 in a phased manner.