Oramax eyes local, foreign buyouts

Ormax, the country's first standalone qualitative research firm, is eyeing both domestic and international research agencies for acquisition.

To that end, it is in talks for acquisition of research agency in Delhi and in Chennai, apart from its effort to hammer out a joint venture with a British research agency.

According to Vispy Doctor, managing director, Ormax, said that the company hopes to acquire the Indian units but favours a strategic alliance with the British firm, both of whom he refused to name.

"India is evolving dramatically and, in the past one year, we have realised the need to grow and expand our area of operations."

Ormax also plans on set up shop in Singapore next year to tap the eastern market, mainly China.With a total of 150 clients across 24 sectors, Ormax today competes with two other established players - Quantum and Thirs Eye. Quantum is numero uno with a market share of 50 per cent, Ormax comes in at No.2 with 35 per cent market share.

Third Eye's marketshare stands at 15 per cent. For Ormax, the acquisition and alliance, if successful, will make it the largest player in qualitative research.

Doctor stated that the acquisition route of another smaller player in India would mean establishing themselves in another market, as well as increasing their clientele. Ormax's revenues were Rs 2.5 crore in 2004-2005.