With PE backing, Servion Global targets Rs 1,000 crore turnover

The company is planning to expand operations to new regions, consolidating business

Chennai-based Servion Global Solutions Ltd, which specialises in customer interaction management (CIM) solutions, is looking at expanding its operations to new regions and consolidating its position as an end-to-end service provider, with a target to reach a turnover of Rs 1,000 crore by 2017.

The recent funding of around Rs 403 crore ($66 million) from India-focused private equity firm Everstone Capital and US-based Solmark would help it strengthen operations, said the company management.

It is looking at strengthening its presence in the US, UK and Australia and expanding its presence to the African countries, said K Balakrishnan, managing director and CEO of Servion Global Solutions.

The expansion plans received a boost with the PE investment and two representatives joining the board. The investment has been done through Evertech Pte Ltd, the Everstone Group's technology investing platform. It has also seen exit to most of its previous financial investors.

The current activities of strengthening business would help the company achieve its target of Rs 1,000 crore turnover by 2017, he said. The company posted a revenue of around Rs 350 crore in the last year and expects to reach around Rs 500 crore by the end of this fiscal year.