eNucleus forms Indian arm, looks at buys

Company ties up with Applitech for BPO, software services

The US-based software company, eNucleus Inc, formed its wholly owned subsidiary, eNucleus India Ltd, which will cater to the Asian market. The Indian arm of the Nasdaq-listed company will operate from Ahmedabad.

eNucleus India has entered into a strategic alliance with the Ahmedabad-based Applitech Solution Ltd, the only CMM Level 5 software company in Gujarat, to utilise India-based resources to carry out functions including software development, business analysis, call centre and other pertinent back office functions to support the growth of eNucleus Inc, the company said.

eNucleus officials said the company is looking into acquiring Indian software and BPO companies. eNucleus is also considering buying Applitech, a software company with significant presence also in Singapore and the US.

"eNucleus has acquired two information technology companies, Primewire Inc and TakGroup, based in Portland and Atlanta during the last six months. Now we are looking to acquire Indian companies, including those doing well in the BPO segment," Robert Steele, executive vice president of eNucleus, said.

"We see immense opportunities in India from the outsourcing perspective. There are opportunities in insurance business also. We work for many insurance companies in the US. eNucleus plans to become a gateway to India for those companies. We work for Metlife Insurance, New York Life and Allianz in the US and talks with more insurance companies are on," he said.

He said, "The growth of eNucleus India will be in direct proportion to the success of the two current operating entities, PrimeWire and TakGroup. PrimeWire provides benefit administration technology to the employee benefits industry, a $40 billion industry in the US. TakGroup has technology to serve oil and gas industries. Our mission in India will be to acquire and develop emerging companies in four verticals "" financial services, distribution, healthcare and education."

eNucleus Inc, which witnessed a change of management this January, delivers software solutions in specific market verticals.

"We are planning to invest Rs 100 crore in the next one year in our Indian operations. We have entered into a strategic alliance with Applitech and are looking to acquire the entire company in next two-three years," Dhru Desai, chairman of Congruent Ventures, US, and also president of eNucleus Inc, said.

Desai said eNucleus Inc will acquire four more companies in the US during the next six months.

Ankil Patel, managing director of Applitech, said, "eNucleus has been talking to many software companies in the country and we are open for any acquisition offer."