Silverline gets into Healthcare sector

Silverline Technologies Ltd has announced the launch of its Healthcare Sector through an Investment of 15% with an option of 100% acquisition in a North American Firm specializing in Healthcare change and performance management.

Commenting on this development, Ravi Subramanian, Chairman of the Board said "This investment is a highly significant step towards the Company’s plans to be a focused leader in specific industry verticals. There is a growing need to building efficiencies and the pressure on governments, globally, on the increasing costs in the segment. In USA alone, the current spend of $1.7 Trillion is estimated to exceed $2.7 Trillion by 2009 and working on current projections, as a percentage could reach to be 20% of GNP by 2015
- an estimated $ 4 Trillion spend! Moreover, despite these huge investments, healthcare continues to fall short in areas of efficiencies. This makes the Company believe that a focus in this segment will bring enhanced shareholder value through tremendous revenue growth and high-value solutions."

"The Company will aggressively build on the Healthcare Solutions Practice encompassing IT Consulting, Business Transaction Processing and Business Performance Management, Analytics and Exception Reporting solutions. This investment is in line with building the Technology-enabled Service Management Optimization (TESMO) focused solutions set. It brings in an innovative, patent-pending solution to the practice aimed to deliver major value to adopting hospitals, and to the insurance companies and governments which fund health care. It brings physicians and managers together for the first time to manage the whole-hospital impacts of changes in hospital operations. The solution will identify, and help to actualize, major cost savings for hospitals, arising from care improvements for patients. It adds a brand-new third layer to hospital clinical-financial management and sits on top of the first layer of clinical records and financial-accounting systems, and the second layer of patient-cost-accounting systems", said Titus Sequeira, Executive Director and Chief Strategy Officer.

The Company said it would spell out complete details on the initiative over the next few weeks. The Company would leverage its global facilities in Canada, USA, India and potentially Mexico to build on these initiatives.

Silverline wins account from IBM

Silverline Technologies Ltd has announced that its Technical Support Solutions subsidiary headquartered in Toronto, Canada has won a major account with IBM. Silverline's latest client is an industry leader in Network Security products and solutions based in California, USA with over 100 offices in over 45 countries. The Company designs and sells Internet Protocol network products and services.

Silverline's subsidiary, Millennium Care Inc. a leading provider of technology support and service management solutions will provide 7/24 Level 1 help desk support for approximately 5000+ users. The help desk will log and track Service Calls. The support will include Single Point of Contact for productivity software, operating systems, email, web browsers, utilities, hardware & networking. Millennium Care's combination of world class tools, process and people will provide this technology giant with an Integrated, centralized and scaleable end-to-end solution.

The Company also announced that the demonstration of excellence in delivery has resulted in an expanded contract scope of providing technical support services to the recognized world leader in pizza delivery. The Company had won this multi-year contract less than 10 months ago. The Company now provides its services to over 4,000 stores in North America to its client that it has

Commenting on this win, Ravi Subramanian, Chairman of the Board said "We are delighted with these latest developments for multiple reasons (a) we have bagged a multi-million, multi-year contract for providing our core competency services to another world leader; (b) winning this contract strengthens our claim to be an emerging leader in providing service management solutions to technology sector, worldwide; (c) the project will be demonstrate our ITIL expertise leveraging 3rd party tools, and, (d) It further strengthens our long-standing strategic relationship with our business partner, IBM Global Services. The latest achievements will significantly deliver revenue growth in the next quarter. We will strive to not only deliver on this initiative but also grow this practice across new markets. We continue to be committed to deliver value to our clients, employees and our shareholders".

Silverline Technologies acquires IMDR

Silverline Technologies Ltd has announced that the Company has acquired OMDR Inc., (formerly known as Omega Direct Response Inc.) a global provider of customer interaction and management services. The company headquartered in Toronto, Canada, specializes in the Inbound and Outbound business service management firm.

Established in 1997, OMDR Inc. (the Company) is a global provider of outsourced call center services. Over the last 10 years, the Company has successfully delivered over 68,251,221 customer interactions with an employee base of over 850 personnel, globally. It specializes in inbound, outbound and multilingual customer contact at every stage of the customer lifecycle. The Company is one of the pioneers of near and offshore contact center services. The Company's delivery centers in Canada, Mexico and India provide state-of-the-art, customized solutions. the Company designs and implements a wide spectrum of call center initiatives ranging from inbound customer care, sales and help desk to outbound services along with in-language services in English Spanish, French, Mandarin, Cantonese, Hindi and other languages. The Company boosts of a clientele consisting of leading players among the financial institutions, system cable operators, public utilities, publishers, membership organizations, telecommunications companies, food services, consumer goods and more. The Company delivers its services out of Call centers in Toronto and Sudbury Ontario, Canada in Zacatecas, Mexico, leveraging a common platform and infrastructure across all sites. Currently, the Company has over 125,000 hours / month total operational capacity leveraging its 1,300 positions.

In addition, The Company has commenced planning its strategy to establish a facility at Gandhinagar and Chennai, India leveraging which it aims to be able to provide extend its far-shore support to its global clientele and new service support to the other customers wishing to explore new service delivery options.

The Company, along with its tools and programs, will become part of the Company's Customer Care and Service Management practice to provide total customer care services to the marketplace. The new capability acquired addresses two common needs evident in the marketplace the increasing cost of ownership of customer acquisition, customer service and customer retention and the recruitment and retention of skilled technical resources required to deliver enterprise wide service excellence.

"Global Customer Interaction is rapidly evolving into a mainstream activity within industries providing not only for customer acquisition but also customer service and retention. This acquisition puts Silverline to be a contender in the service management space and well positions itself well to realize its fiscal 2008 goals of becoming a leading player of technology-enabled service management solutions, globally.", said Ravi Subramanian, Chairman of the Company.

Silverline Scheme of Arrangement, allotment of shares approved

Silverline Technologies Ltd has informed that the Board of Directors of the Company at its meeting held on November 22, 2007, inter alia, has approved the allotment of the Equity Shares pursuant to the order of Scheme of Arrangement as approved by the Hon'ble Court, Bombay. The details of the shareholding pattern was laid on the table and the same was approved and thereafter authorized some of the Board Members and also authorized persons to take the necessary action to give effect to the above transaction and ensure compliance.

Silverline Technologies Scheme of Arrangement

Silverline Technologies Ltd has informed that the Board took note of the order of the Honorable High court, Mumbai, dated October 19, 2007 on the Scheme of Arrangement and appointed Authorized person/s to follow-up with the authorities and other concerned bodies for filling, and submission which would also take into account the fixing the Record date.

The Board approved calling of an Annual General Meeting of the Shareholders to adopt the Annual Accounts and other related items to be held on the November 28, 2007 and authorized a Board Member to take appropriate action.