Bob Myers succeeds A Gururaj, who assumes the role of president and chief revenue officer
Language services provider Valuepoint Knowledgeworks said that it has appointed Bob Myers as the chief executive officer (CEO) of the organisation. Bob succeeds A Gururaj, who assumes the role of president and chief revenue officer.
Headquartered in Bangalore, Knowledgeworks looks to expand their global market share by focusing their expertise on translation and multimedia services for Indian and Asian languages. This strategic move is designed to leverage the exploding demand for language and localisation services in the region as well as take advantage of the company’s Indian delivery platform.
A specialist in creating profitable growth businesses based on innovative business models, Bob has more than 20 years of experience in the language industry. In the ‘90s Bob founded pioneering Japanese localisation company Pacifitech, which he then sold to Bowne Global Solutions, where he was responsible for the localisation business worldwide. He has advised many language solutions providers on growth strategies and most recently served as COO at localisation company Moravia IT.
The facility allows customers to manage multiple accounts, check valuations, compare benchmarks and update their profile
Fidelity Mutual Fund said that it has expanded its online service offering by allowing Visa debit card holders of 27 banks to purchase Fidelity funds through Fidelity Online (www.fidelity.co.in). This facility in India has been enabled through the BillDesk platform. The Visa Debit Card payment facility is in addition to the existing Internet banking facility which is offered to customers of about 39 banks in India.
The facility allows customers to manage multiple accounts, check valuations, compare benchmarks and update their profile. Fidelity Online also has a comprehensive learning centre that offers insights on investing.
Tata AutoComp Systems has roped in JM Financial Consultants, Tata Capital Markets and JP Morgan India as lead managers to its issue
The Tata group-promoted Tata AutoComp Systems (TACO) said its Rs750-crore initial public offering (IPO) is likely to hit the market over the next two weeks.
The automobile components manufacturer had filed its draft prospectus with the capital market regulator, Securities and Exchange Board of India (SEBI) in December last year to raise Rs750-crore.
“We have received SEBI permission for the IPO. If everything goes well, we will be able to hit the capital market over the next two-weeks,” Tata AutoComp Systems’ managing director and CEO RS Thakur told PTI.
The issue will include the sale of nearly 35.63 million shares by its shareholders that include Tata Motors, Tata Industries, Tata Sons, Tata Capital and Tata Investment Corporation. The face value of the equity shares is Rs10 each.
The company has roped in JM Financial Consultants, Tata Capital Markets and JP Morgan India as lead managers to its issue.
“We plan to use the proceeds for repayment of loans, investment in TACOCL, one of our subsidiaries and general corporate purposes,” Thakur said.
Apart from Tata Motors, the company plans to increase its business from other automobile companies. Presently, Tata Motors holds a 26% stake in TACO.
“Our 50% business comes from Tata Motors and the rest from other automobile companies. Going forward, we want to increase our business from other auto majors,” he said.
With more global auto majors entering India, the company is eyeing to double its revenue over the next four years. “We want to double our revenue by 2015,” he said.
The company posted revenue of Rs2,900-crore in FY11.
On impact of hike in interest rates, Thakur said, “It (increasing interest rates) will not affect for a long-term. The industry will recover soon.”
Tata AutoComp provides products and services to the Indian and global automotive OEMs as well as Tier 1 suppliers.
Its clients include Ashok Leyland, BMW, Fiat, Force Motors, Ford Motors India and General Motors India, among others.