Investment worth $12m to be made in IT sector
The Professionals Network Pakistan to invest in information technology (IT) infrastructure.
KARACHI:
The Professionals Network Pakistan has announced that it will make an investment of $12.1 million in information technology (IT) infrastructure which it has secured from a syndicate of high net-worth individuals from Karachi.
The Professionals Network Pakistan Private Limited, a subsidiary of Washington DC-based Professionals Network LLC, said in a press statement on Monday that with this investment, the network will establish business centres in the country. The first such centre will become operational in Karachi in a week.
Professionals Network is commonly known as ResbaseGroup globally. The funds will be channeled into the company’s new Hexaoffice brand. Hexaoffice operates on a model similar to that of Regus, a company listed on the London Stock Exchange.
According to Abdul Aziz, a board member at the Professionals Network Pakistan, although the investment is spread over two years, the company has conditionally committed an additional $21 million by late 2011, based on how sales pick up in the first two quarters of next year.
Published in The Express Tribune, December 28th, 2010.
The Professionals Network Pakistan has announced that it will make an investment of $12.1 million in information technology (IT) infrastructure which it has secured from a syndicate of high net-worth individuals from Karachi.
The Professionals Network Pakistan Private Limited, a subsidiary of Washington DC-based Professionals Network LLC, said in a press statement on Monday that with this investment, the network will establish business centres in the country. The first such centre will become operational in Karachi in a week.
Professionals Network is commonly known as ResbaseGroup globally. The funds will be channeled into the company’s new Hexaoffice brand. Hexaoffice operates on a model similar to that of Regus, a company listed on the London Stock Exchange.
According to Abdul Aziz, a board member at the Professionals Network Pakistan, although the investment is spread over two years, the company has conditionally committed an additional $21 million by late 2011, based on how sales pick up in the first two quarters of next year.
Published in The Express Tribune, December 28th, 2010.