New Delhi: Cyber Group, a leading Cyprus-based information technology and services consortium has joined hands with SAB Infotech to open a series of computer learning-cum-education centres for children.After its successful launch in Chandigarh, at least 10 such hi-tech centres are to set up in New Delhi over the next year. SAB Infotech has also appointed Tata Econimic Consultancy Servives (TECS) as strategic consultants.The company has earmarked an investment of around Rs 100 crore for expanding business across the country by March 2001 in an integrated strategy including ISP operations, a shopping portal, cyber cafes and computer learning centres for kids. This would be partly funded through venture capital investments. The company has an authorised capital of Rs 10 crore and would be raised to Rs 25 crore within the next two months.
SAB's online retail store, Glide Mart is also expected to debut in Delhi over the next few months. Glide Mart retail services in Chandigarh, Panchkula and Mohali is generating a monthly turnover of close to Rs 50 lakh and is expected to grow to around 1 crore a month by June and to around Rs 5 crore by the end of 2000, managing director, SAB Infotech, Dheeraj Garg told The Financial Express.
The franchise computer learning centres by the name of `Cyber Kids' will offer innovative and creative education. "At Cyber Kids, students not only learn how the computer works, but more importantly, they learn how to use the computer in order to execute educationally designed tasks and projects," Marios Eliades of Cyber world told The Financial Express.Glide Mart, the shopping portal currently services over 200 families a day in Chandigarh.
"We are trying be in direct contact with consumers by offering more than 15,000 items of better quality and at a 15-20 per cent discount to the retail price,'' said Garg. SAB Infotech is part of the Rs 400-crore Garg group, which includes Indian Acrylics Limited (IAL), Steel Strips Wheels Limited (SSWL) and SAB Industries Limited having interests in steel, yarns and auto ancillaries. Cyber group is a Cyprus-based $ 4.5 million consortium of companies having presence in IT, software development and telecommunications. Cyber group has presence in at least nine countries,through exclusive franchises for Cyber Kids.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.