Triple Point looks at growth

Triple Point Technology (TPT) "" a global supplier of cross-industry software platforms for the supply, trading, marketing and movement of commodities "" is in talks with two companies in India for acquisitions.

"We are looking at building a stronger geographical presence with acquisitions," said K Oni Chukwu, Chief Financial Officer, TPT. He did not give a timeframe, though.

In 2006, the company diluted 70 per cent of its stake to receive $60 million of funding from the Boston-based Abry Capital.

The acquisitions will help the company fill the gaps in its solution or to strengthen its geographical presence. We are looking at companies in India and Europe, said Chukwu and added that in India the company has already initiated talks with two companies and is hoping to reach an agreement soon.

The Westport, Connecticut-headquartered company, has 280 people globally, of which India has 130 people.

Stressing on India being its largest development centre, Chukwu said, "Till date we have invested $7 million in the country and have 130 people here. Going forward, we will invest close to $3 million in 2007 and increase our headcount by an additional 40 per cent in the year."

In India the company has already made some inroads with clients like Reliance, Bharat petroleum and Gujarat Urja Vikas Nigam Ltd.

"India is a nascent market presently but in two years we expect it to reach an inflection point and be sustainable," said Chukwu.