April 11, 2006
IndianExpress.com :: Persistent Systems on course for IPO
IndianExpress.com :: Persistent Systems on course for IPO: "Persistent Systems, the Pune-based outsourced product development outfit recently funded by US-based venture funds Norwest Venture Capital and Gabriel Venture Capital, is coursing towards an IPO by April next year to raise some $30-50 million (Rs 200-250 crore). " The PDO market is hot enough in India that VCs are investing in companies. Fifteen years ago VCs did invest in plays like CGI and Cognicase who got bought by CGI. At software 2006 I ran into Canadian VCs and it's amazing how they are not on the same page as their american conterpart about being R&D efficient. For a US based VC it's very important for their investments to have an Outsourcing strategy, for a Canadian VC this doesn't ring a bell yet. It makes so much sense to them, and they see so much the writing on the walls, that they are back at investing in services companies. I wonder what it's going to make our VC community see beyond the organization they invest in. Success is speed, and speed comes by ramping up quickly, and executing flawlessly. Lining up partners in ones R&D supply chain accelerate your time to market and increase you chances of meeting customers expectations. It allows one more time for the customer, and hiring the specialist one needs to deliver. R&D groups of companies are now the maestro and the first strings, the rest of the orchestra is partners you mix and match according to the current cycle needs.