May 16, 2000: MphasiS-BFL, formed by Santa Monica, California based
MphasiS Corporation and Bangalore based BFL Software, today announced
that the combined entity will target revenues of US$64 million by
FY 2001 of which over 50 per cent will come from esolutions. MphasiS-BFL,
an Interactive Architect with Quality Capacity, will focus on eSolutions
in Asia Pacific, Europe and North America and on sSolutions (traditional
technologies) for Europe and North America.
post-merger MphasiS-BFL organization includes Jaithirth (Jerry)
Rao as Chairman and CEO and R. Mohan as President of Global Development.
Other appointments include Jeroen Tas, as President of MphasiS-BFL
International Business. MphasiS-BFL also recently appointed Richard
Braddock, Chairman of Priceline.com and former President of Citicorp,
on the MphasiS-BFL Board of Directors. In addition, MphasiS-BFL
has spun off the Products Division into a separate subsidiary headed
by Sridharan Kothandaraman, earlier CEO of BFL Software. The company
is doing robust business in the net-based shopping malls area.
plans to increase its employee strength from 1300 to 1750, by FY
2001 and undertake retraining of employees in emerging technologies
as part of the restructuring exercise. This repositioning will enable
it to leverage opportunities in the e-business space. The new combine
with a truly global customer and investor base has managerial talent
with over 20 nationalities in the organization.
have successfully merged the marketing, development, finance, quality
and HR functions and have also cross-staffed several projects. MphasiS-BFL
is now concentrating on moving up the value chain by focusing on
new projects and building newer skills within the organization,"
said Jerry Rao, Chairman & CEO, MphasiS-BFL.
Company has further identified 4 strategic verticals, which include
Banking/Finance, Logistics, Retail & Supply Chain, Media/Telecom
and Technology. With an end-to-end e-solutions offering that spans
strategy, functional architecture, and technical architecture to
implementation, MphasiS-BFL is well positioned to engage select
financial institutions and Internet companies (dot.com) in the development
of e-business solutions and can deliver enormous value to global
and Indian customers.