NEA picks up stake in RT Outsourcing for Rs 65 cr

Started by jayanthi mandhalapu, Oct 07, 2009, 02:57 AM

previous topic - next topic
Go Down

jayanthi mandhalapu

US-based venture capital firm New Enterprise Associates (NEA) has picked up an undisclosed stake in Delhi-based RT Outsourcing for Rs
65 crore.

RT Outsourcing offers repair and refurbishment services, technical support and call centre operations to third-party companies.

"We have been growing rapidly over the last couple of years and with this investment we will be expanding our services lines and geographic spread through organic and inorganic means. NEA has picked up a stake in RT Outsourcing for Rs 65 crore," RT Outsourcing Managing Director Shammi Moza said.

He declined to divulge the size of equity diluted but said it was more than 10 per cent.

This is the third round of capital infusion in RT Outsourcing. The company has received funding from Motilal Oswal (Rs 31 crore in 2007) and and Sonoma Management Partners.

Asked about acquisition targets, Moza said it has still not identified any companies but would consider companies offering prospects of technological or geographical expansion.

"RT presents a very exciting opportunity to participate in the India growth story. RT's leadership position in the after sales service industry coupled with its market credibility creates a compelling value proposition," NEA Executive Director Ben Mathias said.
Be Happy And Always Remain So

Go Up
 

Quick Reply

With Quick-Reply you can write a post when viewing a topic without loading a new page. You can still use bulletin board code and smileys as you would in a normal post.

Warning: this topic has not been posted in for at least 120 days.
Unless you're sure you want to reply, please consider starting a new topic.

Note: this post will not display until it's been approved by a moderator.
Name:
Email:
Verification:
Please leave this box empty:

Type the letters shown in the picture
Listen to the letters / Request another image

Type the letters shown in the picture:

shortcuts: alt+s submit/post or alt+p preview
IT Acumens Web Designing Chennai | GinGly :: Build your Personal Website | CineBuzz :: Cinema News | My Kids Diary :: Kids Memories Writing :: Book Website @ 349 Rs monthly
Copyright 2005 - 2020 :: IT Acumens :: All Rights Reserved. :: Sitemap
ITAcumens Discussion Forum with 2 lakhs post running for 15 years - Powered by IT Acumens Dedicated Server