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Globsyn in JV with Samsung for training

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DQW Bureau
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Delhi-based Globsyn Technologies Ltd has formed a joint
venture with Samsung Data Systems, Korea to set up 11 training institutes in the
Asia-Pacific region. The first center will be set up in Singapore soon. While
Samsung will undertake marketing activities, Globsyn will provide the content
and faculty.

This is Samsung Data Systems', the training arm of the
Samsung Group, first foray into the overseas training market while Globsyn
already has set up a presence in Dubai. Refusing to provide further details of
the alliance, Bikram Dasgupta, Chairman and CEO, Globsyn said that the MoU to
this effect has been signed and the company shall make a formal announcement
soon.

Globsyn is into providing high-end IT training to
professionals under the branded product line called TechnoCampus. It also has
another product line called Knowledge Pubs that caters to the generic
IT-training needs of people. Currently it has around 11 TechnoCampus centers
across the country.

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As far as the domestic scenario goes, Globsyn has ruled
out setting up further centers and is now eyeing the lucrative Asia-Pacific
market. With recent reports about immense opportunity for IT training in Asian
market and with Indian IT training market being already overcrowded, Globsyn
could not have chalked out a better strategy for expansion.

Elaborating further about its expansion strategy,
Dasgupta revealed, "Our route to expansion will be through alliances,
tie-ups and partnerships. Gone are the days when one had to set up direct
presence in each country."

This is an interesting development in light of the
recent set back the company suffered by calling off its IPO. Now Globsyn may not
come out with an issue at all as the company has chalked out alternate means of
growth. It is actively looking at acquisitions to expand. Said Dasgupta,
"We have ruled out an IPO for the time-being. There is no dearth of funds
as we have access to take-over money."

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Another area that the company is actively exploring is
increasing its share of outsourcing business." In US, companies are now
faced with a scenario where it is deemed wrong for a company not to have an
Indian connection. Therefore there is enormous scope for people who are willing
to do small and medium-sized contacts. There is no doubt that the current
slowdown can indeed be turned into an opportunity by Indian companies," he
opined.

This is contrary to what companies like Infosys and NIIT
have predicted and herein lies the predicament for large corporates. True there
is an enormous opportunity for work but they are only for small timers as
corporates are trying to overcome slowdown by cutting out on the big projects.
Smaller companies can work on projects, which are small in size as against
larger corporates, which have the burden of size. Accepting smaller projects
would affect the bottomline and being public listed companies they would have to
face the scrutiny of shareholders. Therefore, it is the very small and the very
large companies that are being affected by the slowdown, said Dasgupta.

(CNS)

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