Bangalore, INDIA.- Microland Limited, a leading Indian provider of IT Infrastructure Management and Technical Support Services, announced today that it has secured US$11 Million in funding from Cargill Ventures, Intel Capital, Trident Capital and JAFCO. The funds raised will enable Microland to invest in new infrastructure and accelerate its business growth in the Remote Infrastructure Outsourcing market.
Commenting on the milestone, Mr. Pradeep Kar, Founder, Chairman & Managing Director of Microland Limited said, "Microland pioneered Remote Infrastructure Management in India when we set up our first Global Operations Center in 1999 to manage the IT Infrastructure assets of a global corporation."
"This funding will enable us to augment investments in infrastructure, capabilities and business acquisitions to capitalize on the large opportunity in the USD 110 billion global Remote Infrastructure Management Services space."
Microland currently has a client base of over fifty global customers ranging from a Media Company, Global Services Company, Banking & Financial Services Institutions, multiple High Tech IT companies, major Software Corporation to a diversified Business Conglomerate. With an expanded workforce of 1600+ professionals, all encompassing services that relate to monitoring, managing and enhancing the performance of a client's IT Infrastructure and being ISO 20000-1 & 27001 and BS15000 & BS 7799 Certified, Microland is well positioned to lead Remote Infrastructure Management services, the third wave of IT outsourcing to India.
Infrastructure Management Services is an untapped market opportunity of USD 110 billion that provides significant growth prospects for Indian IT services companies. Industry estimates that IT services exports from the Remote Infrastructure Outsourcing market in India will grow from USD 800 million in 2005 to USD 7 billion by 2010. (Source NASSCOM 2005)
"We believe that Remote Infrastructure Management is a strongly emerging IT services category that will accelerate as companies recognize the tremendous benefits and ROI that is attainable" said Mr. Deepak Malik, Managing Director of Cargill Ventures. Microland has an experienced management team and is well-positioned in this market".
"The investment in Microland is a result of Intel Capital's interest in supporting specialized IT services companies in India, as they meet the needs of customers globally," said Dr. Kumar Shiralagi, Director, Intel Capital, India. "The investment by Intel Capital in Microland follows the establishment in December 2005 of a USD 250m Intel Capital India Technology Fund, intended to help stimulate technology innovation in India and to support growth of the country's IT industry".
Microland Limited is a pure-play provider of IT Infrastructure Management & Technical Support Services. Microland's Infrastructure Management Services encompass all the Services that relate to Monitoring, Managing and enhancing the performance of a client's IT Infrastructure. These include Server Management, Messaging (Email) Management, Data Center Management, Network Management, IT Security Services, Device Management, Application Management and Process and Technology Consulting. Microland's Operation Management Centers are ISO 20000-1 & 27001 as well as BS15000 & BS 7799 Certified.
Since its inception in 1989, Microland has carved out a niche for itself in the IT Infrastructure Management and Technical Support Services space. Microland understood and sought to harness the impact of Networking & Internet Technologies long before they were recognized as the transformative forces of today. Microland pioneered networking in India in 1989 and introduced technology products from leading technology vendors into India including Compaq, Cisco & Synoptics, Checkpoint & Netscape. Microland also led India's entry into the internet economy in the late 90's.
About Microland
Microland is headquartered in Bangalore, with 1600+ professionals working across the globe. Microland provides a proven and reliable alternative to global customers in managing their enterprise IT infrastructure.
About Cargill Ventures
Cargill Ventures is the venture capital arm of Cargill, Incorporated, a privately held company with operations in 63 countries and revenues of over $71 billion. Cargill Ventures invests in high-growth technology-based companies.
About Intel Capital
Intel Capital, Intel's venture capital organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise home, mobility, health, consumer Internet and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$4 billion in more than 1,000 companies spanning more than 30 countries. During this time, about 160 portfolio companies have been acquired and another 150 have gone public on exchanges around the world. In 2005, Intel Capital invested about US$265 million in about 140 deals with approximately 60 percent of funds invested outside the United States
About Trident Capital
Trident Capital is a leading venture capital and private equity firm with over $1.5 billion of capital under management, including $400 million raised in our recently closed Fund VI. Trident's core investment focus has remained consistent since inception in 1993. Trident focuses on investments in the business services, information services and software sectors across a variety of industries. Within its sector focus, Trident invests across multiple stages, including traditional venture capital investing as well as investments in micro-cap public companies, buyouts and consolidation platforms. The firm has made over120 investments since inception. Trident has investment offices in Palo Alto, Calif. and Westport, Conn.
About JAFCO Ventures
JAFCO Ventures is a venture capital firm that invests in emerging technology-based companies. They look for and invest in companies that demonstrate true "breakout" potential with differentiated technology and compelling business models.
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