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June 12, 2001
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Money > Business Headlines > Report June 12, 2001 |
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Ariba shelves Indian centre plansBS ICE Bureau The $90-million B2B e-commerce solutions provider Ariba Inc. has shelved plans to set up a development centre in India. "We have long-term strategic interests in India and are using the country as a base for supporting our projects in Asia. Though the last six months have been tough, we are committed to continue our Indian operations," Lawrence Wee, vice-president & managing director, Ariba- Asia Pacific told newspersons in Bangalore The India development centre was announced by Ariba in January 2001, but has been shelved owing to the present downtrend in the US economy. The company, according to Wee, had more than $400 million in cash and was well positioned to face the present downtrend. In India, the company has a very lean presence with seven employees, including country manager M Ganesh. Since its launch in August last year, the company has five customers in India which include B2B players like Indiamarkets.com, ITNation.com, sugartrade.com, and Trade2Gain.com. According to Wee, the company in India, will focus on the top 50 corporates and help build e-procurement solutions for them which will substantially result in cost savings. "Our pitch in India will focus significantly on the ROI (return on Investment) that Ariba can bring in" Wee said. Powered by YOU MAY ALSO WANT TO READ:
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