Mentorix Charts $2.5 M Expansion

Mumbai: | Updated: Oct 31 2002, 05:30am hrs
Mentorix Learning Technologies, an Aptech and eVentures promoted company plans to invest $2.5 million for the expansion of the companys operations both in domestic and international markets.

The company will invest $1 million raised through internal accruals, in its new development facility and the rest would be deployed in expanding the companys operations in Europe and for acquisitions.

Mentorix Learning Technologies president and CEO Maurice Haeems said that the company already has two development facilities in Mumbai, which will now be consolidated into one. Mr Haeems expects the new facility to be up and running early next year.

He adds, that the company is also putting in place initiatives to make its presence stronger in Europe next year.

To begin with, the company will set up representative offices in the UK, Germany and France. In addition, the company is also scouting around for acquisitions in the European market.

Mentorix has also bagged an order worth $20 million from Pearson Education technologies, a leader in integrated educational publishing, for e-learning solutions.

Pearson Education, is a part of Pearson Plc whose primary operations include the Financial Times and the Penguin group. Both the companies have partnered to set up a development center, where Mentorix would develop, update and maintain Pearson Education technologies products.