i-Vista enters European market

i-Vista Digital Solutions, a software products company in the web domain space, has forayed into European market.

It recently bagged a 1 million order from The Netherlands to develop two software products in the space of outsourced product development (OPD). I-Vista will work on the basis of build-own-operated and transfer (BOOT) model. The products will be transferred in two phases.

The company has developed three products and has an installed base of 18,000 users both within the country and outside. It entered the US market in 2001. i-Vista CEO Narayan Rajan said that another five products are in the OPD base and employs the pay-as-you-use revenue model for its products.

Looking at revenues of Rs.4 crore in the current fiscal, i-Vista is targeting Rs.12-15 crore in the 2006-07 fiscal. Mr.Rajan said it has been looking at acquisitions, especially small IT companies, with revenues of Rs.2-3 crore in tier-2 cities, though nothing has been firmed up yet. Having started its operations in 1996, i-Vista has 40 people and is looking at raising the number to 100 by this year-end.