Triple Point Technology, developer of software solutions for global commodity markets, is eyeing acquisitions in India the software developer, recently recapitalized through private equity infusion of $60 million by the Boston based ABRY partners, is also focusing on Asia particularly India for future growth. “We received private equity investment from ABRY partners in August 2006 for $ 60 million which gives them 70% stake. Their investments in our company give access to a $ 9 billion they manage which we could use for acquisitions. This is the first time we have received private equity investment”, K Oni Chukwu chief financial officer, TPT, told reporters.
“We have invested $7million in our India facility here in Pune, since 2001 when we began operations. We have now strengthened our management team here, so that the president and chief financial officer of our Asia Operations, is located here today, with 130 people, it is our single largest locations”, Mr. Chukwu remarked.
Media Contact: Zubair Poonawalla@ Reach Out PR # 9422009260
