Financial Daily from THE HINDU group of publications
Monday, Feb 23, 2004
Mergers & Acquisitions
MetricStream to take over Zaplet; double India staff
Bangalore , Feb. 22
POST-merger with Zaplet Inc, MetricStream, the US-based quality and compliance management solutions provider, is planning major ramp-up of its development operations in India.
Zaplet Inc, the enterprise software firm, which helps companies to automate internal control and workflow, is getting merged with MetricStream.
Ms Shellye Archambeau, the new CEO of MetricStream, said the entire merger exercise was likely to be completed by mid-March.
"At present, we are discussing the combined product roadmap for the merged entity and future plans include targeting newer markets outside the US, especially the Europe, India and the Asia," said Ms Archambeau, who was formerly the CEO of Zaplet.
MetricStream plans to more than double its headcount in India from the present 40 to over 100 over the next 12 months, said the company's Chief Financial Officer, Mr Gaurav Kapoor. "We also expect to invest significantly in the Indian operations," Mr Kapoor said even while declining to spell out the detailsMetricStream also has about 40 people in the US.
At present, a large portion of MetricStream's product development is done from its Bangalore centre.
Post-merger, development work relating to several components of Zaplet's productline would be transferred to Bangalore, said Ms Archambeau.
Incidentally, both the companies had a common investor Kleiner Perkins Caufield & Byers (KPCB).
Mr Vinod Khosla, the general partner of KPCB, has been Zaplet's chief advisor since the company's inception and was also on the board of Zaplet.
Apart from KPCB, other investors in MetricStream include QuestMark and Cisco.
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