This comes at a time when big and small players in the ITES (IT enabled services) industry are joining the consolidation bandwagon.
The new company is likely to be named as B2K and will be managed by a former Talisma employee. UTI, one of the investors, is believed to have put in over $2 million (which is learnt to be insignificant as compared to that of other investors) in the new venture.
Talisma officials were unavailable for comment while the spokespersons for UTI Venture Funds Management and Oak Investment Partners were tight-lipped about the entire issue.
We intend to grow Talisma as a strong product and services company. There could be a possibility wherein we hive off the ITES division as a separate company, an Oak Investment Partners official said.
Talisma currently has over 100 people in its BPO division in Bangalore serving international clients including Microsoft.
The companys global customers include Coast Capital Savings, Sony, Click 2 Learn, MWB, Aviva Life Insurance Company India Pvt Ltd, HGTV, Microsoft and Dell. The company is based in Seattle, with offices across the United States, Europe and Asia.
Talisma has received investment from Oak Investment Partners, SeaPoint Ventures and an individual investor, Paul Maritz.
Oak Investment Partners was founded in 1978 and has initiated nine venture capital partnerships with a total of $2.6 billion in committed capital. Oak has sponsored over 340 companies with aggregate annual revenues in excess of $100 billion. SeaPoint Ventures started as a Pacific Northwest point fund associated with three venture capital firms: Oak Investment Partners, Sevin Rosen Funds and Venrock Associates.
Talisma establishes partnerships with leading software and service firms to offer customers a comprehensive range of business solutions. Its open integration platform allows partner products and services to connect, interoperate with Talismas enterprise and legacy information systems.