India Offshoring to Victoria in $20m ICT Investment Deal
India Offshoring to Victoria in $20m ICT Investment Deal |
| Media release - 31 October 2005 |
| A new $20 million intellectual property deal will reverse the off shoring trend and provide a major boost to the Victorian ICT industry, the Minister for Information and Communication Technology (ICT), Marsha Thomson, announced today. Value Chain Integration (VCI), a Melbourne-based global information solutions company, has successfully transferred ownership of software intellectual property (IP) rights, valued at AUD$20 million, from India to Melbourne, where the company plans to build its new global headquarters. "This deal is a major win for India's ICT industry and is the first major deal of its kind which sees the transfer of technology ownership from India to Australia," Ms Thomson said. "This cements trade ties and paves the way for future deals and technology transfer between the two counties. "It is also testimony to the quality of India's R&D capabilities and ability to develop market leading technology solutions." The IP rights, which are for a world first patented dynamic service collaboration technology, will be owned and marketed by VCI and form part of the emerging information integration market estimated to be worth US$6 billion and growing rapidly. VCI CEO Ananda Rao said VCI intended to become a dominant global player and would leverage Australia's ICT talent. "VCI will be investing AUD$8.1 million into establishing its global headquarters in Melbourne and plans to be turning around AUD$132 million within five years, staffing in excess of 500 employees world-wide, with up to 100 highly skilled jobs in Melbourne," Mr Rao said. "Victoria will be the major centre for marketing, solutions development and product design enhancements with at least 40 per cent of all effort and 60 per cent of monies spent to come out of Australia." Ms Thomson said trade between Victoria and India had been growing steadily to reach more than AUD$600 million in 2003-04. Ms Thomson is currently leading a delegation of 25 Victorian companies, including VCI, to BangaloreIT.in - Asia's largest ICT trade fair. The delegation includes people from the eLearning, software development, RFID, manufacturing and legal sectors of ICT, as well as representatives from RFID Association of Australia and Victoria University. |
| BACKGROUNDER: Value Chain Integration Pty Ltd |
| Headquartered in Melbourne, Australia, Value Chain Integration Pty Ltd (VCI) is a global information solutions company wholly owned by Benchmark Group Holdings, an information management and solution group established by Mr Ananda Rao, founder and former Executive Director of Infosys Australia. VCI helps Fortune 2000 organisations and Governments realise improved business performance and decision making through better use of existing information. The Company has spent the past four years and invested US $15 million into developing a revolutionary new, patent protected software that dramatically simplifies the process of information integration and turns the concept of a near 'real-time' enterprise into a reality by overcoming the technical, cost and time challenges associated with trying to integrate information in a distributed environment. Its patented software provides the knowledge worker the right information at the right time by leveraging distributed information in various repositories, tools and online services using a highly sophisticated dynamic composition algorithm. Unlike most existing information integration solutions available today, this highly componentized solution uses real data right from the proof of concept stage and is several times faster to implement compared to ground up development or implementation of enterprise software solutions. Coupled with software solutions, VCI also operates a professional services arm that consults in information management and provides complete information management solutions. |
| VCI contacts |
| Ananda Rao Value Chain Integration Tel: + 61 400 014 784 Caroline Shawyer THE PR GROUP Tel: + 61 401 496 334 / +61 3 9510 2816 |
How can we help?
Media release |
 |
 |
| View as PDF file |
