I always wondered why Ambanis are not in IT yet ? Is it too late ? Will they disturb current equations in Indian IT market ?
Source : BS
Anil Ambani nurturing Tech Reliance
V. Rishi Kumar
Hyderabad, Jan. 1 For Reliance groups, it has always been about
scale be it petrochemicals, communications, entertainment, power or
finance. Now, Tech Reliance, under wraps, technology consultancy
services provider of the ADAG Group, is set to make a splash shortly.
The ADAG group is growing this less known company at a rapid pace
and expects to pitchfork it into the top five league within two years.
Tech Reliance has four centres. The development centre in Hyderabad
focusses on $100 billion IT consulting and services and infrastructure
management. This arm would build on the group synergies, including FLAG.
According to sources, Mr Anil Ambani, Chairman of ADAG, is armed
with a chest of $2 billion that would help the company virtually
compress time and leapfrog into the big league.
Traditionally, Reliance has grown its businesses and expects to do
so with Tech Reliance. However, some of the missing pieces of the
technology services could be bridged through some acquisitions too,
according to sources.
According to sources, Mr Anil Ambani has personally handpicked a
team of IT professionals to lead this initiative which includes current
employees working in Reliance ADAG. The company is in the process of
attracting talent from some of the leading consultancy firms.
A Reliance spokesperson refused to comment on the development. He
said “The group continuously explores avenues for enhancing value for
our stakeholders’. A formal announcement about Tech Reliance is likely
soon.