Ovex Technologies
From Wikipedia, the free encyclopedia
| Ovex Technologies | |
|---|---|
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| 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 | 800 (2007) |
| 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.
Overall, it has eight facilities in the cosmopoliton cities of Karachi, Lahore and Islamabad. Recently started working out of their new facility located in a bustling business area called 'Blue Area' (the fourth office in the Federal Capital); this shall be solely dedicated to the PremierBPO projects. Its clientele ranges from Fortune 500 companies to dynamic medium-sized businesses located primarily in the United Sates. Major clients include Nasdaq-listed Enpointe Technologies and PremierBPO. Presently, it employs over 850 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 $1.68 million; 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.
It seems as if an agreement has been reached among the En Pointe (present owners of Ovex) and the Ovex Management (last owners) to separate Ovex Technologies (Pvt.) Limited and Ovex Global. Ovex Global is being looked after by Bob Din's son Ali Din and Kevin Schatzle whereas the Ovex Techologies business is being led by Omar Saeed's Team.
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 2006-09-08.
- ^ "IT investors meet Musharraf", ITWorldpk. Retrieved on 2006-09-08.
- ^ "En Pointe Technologies, Inc. Announces Signing of Agreement to Acquire a Majority Interest in Its Foreign Provider of Business Processing Services", MSNMoney. Retrieved on 2006-09-19.
- ^ "En Pointe buys outsourcing providers", BusinessWeek. Retrieved on 2006-09-20.
