Technology operations management company Cybernet Slash Support Corp is entering the European market, the company said Thursday.
Its first stop is in the Netherlands, where it is partnering $19.5-million Bergler ICT. It would offer infrastructure management services to the Bergler’s clients.
As per the deal, Cybernet would manage the infrastructure of Bergler’s European clients and also offer technology support from its Chennai operations, Shiva Ramani, co-founder and CEO, Cybernet, told reporters here.
“Around 200 people will be deployed in Chennai for this three-year contract,” he said.
Cybernet has around 5,000 employees at its Chennai and Coimbatore centres.
According to Rob Wessels, CEO, Bergler, the outsourcing market in the Netherlands is estimated to be $1.5 billion.
“The share of Indian companies in this is around 9 percent,” Wessels said.
Speaking about Cybernet’s expansion strategy, Ramani said: “We are trying to become a global company. We have a presence in Japan, Australia and now in Europe.”
He said the decision to enter Europe was not linked to the rupee appreciating vis-à-vis the dollar, which has impacted the company’s revenue.
“In Europe, we hope to expand leveraging our existing relationships. In Germany we may go in for a new partner,” Ramani said.
Currently, Cybernet earns less than 5 percent of its revenue out of Europe.
“In three years, the revenue from Europe is expected to be around 27 percent,” he said.
For Cybernet, Europe offers better operational margins as compared with the US. Source:economictimes.indiatimes
