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NEW DELHI
May 15, 2007
Indian distribution focused company Iris Computers have found a financial
investor in the form of US-based JMG Exploration. As part of the arrangement,
the oil and gas company JMG Exploration will invest up to $5 million in Iris
Computers to provide it financial muscle for its expansion plans in India over
the next one year.
"We have been looking forward to doubling our business operations from
the present Rs 500 crore to over Rs 1,000 crore mark. This financial investment
will help us achieve this figure in a timely fashion. Hong Kong based-OFS
capital group has helped us in terms of identifying this financial
investor," informed, Sanjiv Krishen, Chairman, Iris Computers.
Despite Iris getting financial backing from the oil and gas focused
organization it will continue to work with the existing management and policies
in the market. "We will continue to work like we have done for the past
many years. So there will be no changes in the way we work at all," Krishen
added.
At present, Iris is focusing its efforts in terms of distributing products
from global vendors like IBM, Lenovo HP and BenQ. Moving forward the company
will continue to work its way forward on expansion mode.
"With this funding in place, we would surely be looking at adding more
products to our portfolio. Of course, we will continue to focus on our existing
products from vendors like IBM, HP or Lenovo," he added.
At present, Iris has its offices at 24 locations within India and with this
funding in place expansion of its offices is on the cards as well. "Yes, we
would be expanding our offices in India. This year, we would be adding another
five locations. Our primary objective is to provide better options for our
vendors and the channel community," he added.
Iris Computers was established in 1995 by Sanjiv Krishen, an entrepreneur
with over 30 years in the computer distribution business in India and the Middle
East. Today it covers more than 30 distribution points and 1,100 channel
resellers throughout India. Page(s) 1
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