B2K Corp Buys Out Talisma Unit

Bangalore, Nov 7: | Updated: Nov 8 2003, 05:30am hrs
Bangalore-based B2K Corp Pvt Ltd has acquired Talismas Outsourced services business from Talisma including customers, employees and fixed assets as part of its focus to offer a complete range of IT services, product development and technical support services. Vivek Kulkarni, former IT secretary, Karnataka, has joined the company as chairman and CEO.

The company has also roped in UTI Ventures and Dhanalakshmi Bank as investors besides Oak Investments partners which already has stake in the company. B2K has so far mobilised $4.1 million in its first round of funding.

Addressing the media Mr Kulkarni said the company was planning to expand its 120 people team to 1000 in the next two years and was also targeting the healthcare billing industry in a significant way for the outsourced services business.

According to Mr Kulkarni, the technical support industry was itself expected to touch $28.4 billion.

On the services front, B2K has tied up with Mindtree Consulting and the latter would be the execution and delivery arm for IT services.

B2K is expecting to touch revenues of $6 million in the first year of operations and scale to $15 million in the second year.