Ovex Technologies
From Wikipedia, the free encyclopedia
| Ovex Technologies | |
 |
|
| Type | Private ISO 9000:2001 |
|---|---|
| Founded | 2003 |
| Headquarters | Islamabad, Pakistan |
| Key people | Omar Saeed, Chairman & CEO |
| Industry | Business Process Outsourcing |
| Revenue | Exact figures not available (One of Top 5 High-revenue generating ITeS companies in country |
| Employees | 775 (2006) |
| Website | www.ovextech.com |
Ovex Technologies, a subsidiary of En Pointe Technologies (NASDAQ: ENPT) is a third party offshore Business Process Outsourcing (BPO) provider in Pakistan. It has two offices in each of the three cities of Karachi, Lahore and Islamabad. Its clientele ranges from Fortune 500 companies to dynamic medium-sized businesses located in North America and the United Kingdom. Major clients include Nasdaq-listed Enpointe Technologies and PremierBPO. Presently it employs over 750 employees with diverse backgrounds ranging from Computer Science to Commerce. The company was established in January 2003.
As of October 1, 2006 70% of the equity of Ovex Group i.e. OvexUS and Ovex Pakistan combined has been acquired by its long-time client En Pointe Technologies, which just happens to be the first acquisition made by a US publicly-traded company in the country. The deal was worth $1,680,000; total amount broke down as $240,000 Cash, $240,000 in form of unregistered (common stock) shares of En Pointe Technologies and $1,200,000 of Note Payable (Interest Applicable) due on October 2007. The beneficiary being the Saeed Brothers (Omar and Arif Saeed). Their father Chaudhary Ahmed Saeed, former Pakistan International Airlines (PIA) chairman who also serves as a director at the conglomerate The Servis Group happens to be an old friend of General Pervez Musharraf's from their Forman Christian College days.
There's a possibilty of the Company Name being changed to Ovex Global as now it's part of a much larger entity.
In financial year 2005-2006, Ovex was one of the five companies that contributed the most to the rise in Pakistan's IT exports by value.[1] Together with United States firm Enpointe Technologies, the company has invested more than $2 million in various IT-related areas in Pakistan as of 2006.[2]
[edit] References
- ^ "Pakistan's IT exports hit $72m", Telugu Portal, 5 August 2006. Retrieved on September 8, 2006.
- ^ "IT investors meet Musharraf", ITWorldpk. Retrieved on September 8, 2006.
- ^ "En Pointe Technologies, Inc. Announces Signing of Agreement to Acquire a Majority Interest in Its Foreign Provider of Business Processing Services", MSNMoney. Retrieved on September 19, 2006.
- ^ "En Pointe buys outsourcing providers", BusinessWeek. Retrieved on September 20, 2006.
