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Hero ITes looks at Aussie partnership

Hero Group's BPO arm Hero ITeS is in talks with Australian firms for potential partnerships.

india Updated: Feb 23, 2006 13:03 IST

As part of efforts to expand its global presence, Hero Group's BPO arm Hero ITeS is in talks with Australian firms for potential partnerships.

"We have a potential partnership opportunity in Australia and are in talks with them (firms there)," Hero Management Services Business Head Rohit Chanana told PTI here, but refused to divulge any further details.

The company, which serves financial services, telecom and white goods verticals and has overseas presence including offices in US and UK, is also looking at entry into newer verticals besides going public soon.

"We will look at entering retail, travel and hospitality verticals soon but our focus would be on customer relationship management (CRM) space," Chanana said.

The company would like to integrate operations and run it for two to three quarters before going public, he added.

Meanwhile, the company which is totally owned by the Hero Group, is planning to offload around 30 to 35 per cent of its equity to a private equity partner for funding the acquisition of an ITeS company in United Kingdom or US.

"We are looking to raise $25-30 million through private placement to a branded investor in US or UK and have already appointed a merchant banker with presence in Europe and US for identifying the partner," Chanana said.

The funds would be mostly used to acquire a company in the customer relationship management and transaction processing company, he added.

First Published: Feb 23, 2006 13:03 IST