Citing Growth Opportunities, Evalueserve Announces Expansion of Chilean Operations

Dubbing Chilean Center a Stronghold, KPO Pioneer Continues Global Expansion Emphasizing the Value of Indian-Chilean Connection

Dec 17, 2009, 09:54 ET from InvestChile-CORFO

NEW YORK and SANTIAGO, Chile, Dec. 17 /PRNewswire/ -- Despite the global cooling of investment, Chile continues to secure new investments and expansions of existing ventures in global services. Evalueserve, a leading provider of Knowledge Process Outsourcing (KPO) services, recently decided to expand its existing operations in Chile, one of the company's more profitable locations, to take advantage of the country's business environment and meet current and anticipated customer demand as part of its global strategy.

Ten years ago, Indian companies investing in Latin America were few and far between. Within the past few years, however, Indian service providers began viewing Chile as a complementary location to their main operations. To strengthen its global offering, Evalueserve opened its Latin American operation in Chile in 2006. Today, Evalueserve's integrated global delivery platform focuses on four locations - India, China, Chile and Romania. From Chile, the company is able to diversify geographical risk, offer U.S. daytime support, a 24x5 global delivery platform, Latin American services (Spanish and Portuguese) and overnight Asia coverage. This strategy allows Evalueserve to provide a high level of service to U.S. clients at considerably lower cost.

Evalueserve is now embarking on an expansion of its Chilean operation to add capacity and capability to its existing offering. "Based on the success of our operation in Valparaíso, we have decided to focus on making our Chilean operation a global center of excellence for data analytics and quantitative financial services," explained Mohit Srivastava, County Manager, Chile for Evalueserve. "Chile offers us a unique value proposition - the combined benefits of a nearshore location to serve the United States and other Latin American countries, as well as an unparalleled business environment and the government support that will enable us to continue to grow as a dominant global KPO provider. We view the Chilean operation as a key complement to our Indian operations and other locations."

Evalueserve has already begun its five-year Chilean expansion. The operation currently employs 150 people and is expected to more than triple in size, expanding by fifty percent annually until it reaches approximately 500 employees by 2014.

"Our relationship with Evalueserve has continued to grow following their initial investment in 2006," stated Nicolo Gligo, Executive Director of the U.S. for CORFO, the Chilean Economic Development Agency. "Evalueserve was attracted by our investment incentives, but more importantly, by the stable environment - economically and politically - that has made Chile a top location in the region to do business. We look forward to continuing to work closely with Evalueserve as they expand; in doing so, they reinforce Chile's reputation for delivering nearshore success."

About Evalueserve

Evalueserve provides knowledge services to a global client base of Fortune 5000 companies, including Investment, Commercial and Retail Banks; Insurance Companies; Private Equity Firms; Corporate; Consulting and Research Firms; Law Firms and Intellectual Property Firms. Evalueserve's expertise covers areas such as Financial and Investment Research, Business Research, Market Research, Intellectual Property and Legal Support Services, Data Analytics and Knowledge Technology Services. The company also offers access to over 20,000 experts through a Circle of Experts.

Evalueserve currently has more than 2,000 professionals in research centers in India (Delhi-Gurgaon), China (Shanghai), Chile (Santiago-Valparaiso) and Romania (Cluj-Napoca). In addition, 65 client engagement managers are located in all major business centers and regions around the world. The company has offices in the Americas, Europe, Asia-Pacific and the Middle East. For more details, please visit www.evalueserve.com.

About CORFO

CORFO, the Chilean Economic Development Agency, was founded by the Chilean government in 1939 and aims to foster economic growth by encouraging investment, innovation, business and cluster development. To date, CORFO has aided more than 57,000 businesses and assisted in 74,000 projects with a goal of encouraging the development of numerous industries throughout Chile. CORFO contributes an annual average of more than $30 million to SMEs programs and more than $38 million to high technology programs alone. For more information, please visit www.corfo.cl.

About InvestChile-CORFO

InvestChile is an investment program created by CORFO (the Chilean Economic Development Agency) in 2000. The program promotes Chile as a business platform to access Latin America and the world and facilitates investment through a series of incentives, services and comprehensive information regarding business opportunities in various sectors of the Chilean economy. Among the services provided, InvestChile facilitates access to business networks and government institutions, helps investors find service providers and suppliers, and arranges meetings with industry leaders and visits to companies. For more information, please visit www.investchile.com.


    Contact: Gerald Kimber White
    RF|Binder Partners
    Gerald.KimberWhite@rfbinder.com
    +1.781.455.0425

SOURCE InvestChile-CORFO



RELATED LINKS

http://www.investchile.com