ICRA plots growth in KPO, online arms
ICRA plans to acquire an appropriate analytics and information services company to help bolster the operations of its KPO and online services subsidiaries, reports BS Reddy.business Updated: Sep 22, 2007 00:12 IST
Credit rating agency ICRA is planning to acquire an appropriate analytics and information services company to help bolster the operations of its knowledge process outsourcing (KPO) and online services subsidiaries, ICRA Technoanalytics and ICRA Online.
“Our strategic plan is to expand the operations of ICRA Technoanalytics and ICRA Online through the inorganic route. We have identified two basic parameters for the fit — right synergy and right price,” said P.K. Choudhury, Vice-Chairman and group CEO of ICRA.
Both the subsidiaries are wholly-owned by ICRA, which has international rating major Moody’s Investor Service Inc as the major shareholder with 28.51 per cent stake. These companies posted combined revenues of over Rs 15 crore last year.
On Friday, Choudhury also announced the launch of a web-based platform, developed by ICRA Online, for small and medium-sized mutual-fund distributors in Tier-II and III cities. Using the tool, distributors would be able to club research and back-office operations and allow customers track their portfolios.
“Being a web-based solution it will also be cost effective and help in spreading the reach of mutual-fund products to the underserved smaller cities and towns,” said Aditya Agarwal, Joint MD of ICRA Online. The company earns 15 per cent of its revenues from exports.
ICRA Technoanlytics is a software development company in domain areas of distribution network management, financial operations and engineering. It has a US subsidiary called ICRA Technoanalytics Inc, and 50 per cent of its revenues come from overseas.
Besides these subsidiaries, ICRA has a consultancy subsidiary called, ICRA Management Consultancy Services (IMCS), which offers strategic and developmental consultancy services on regulatory, risk management systems and infrastructure services.
First Published: Sep 22, 2007 00:08 IST