STAFF REPORT KARACHI: The Professionals Network Pakistan has announced to invest $12.1 million in the information technology infrastructure in the country.
“We will establish business centres across the country. The first such centre will become operational in Karachi in a week’s time,” said an official of the Professionals Network Pakistan, in a statement issued here last week.
The Professionals Network Pakistan Private Limited, a subsidiary of Washington, DC-based Professionals Network LLC, has secured $12.1 million from a syndicate of high net worth individual investors in Karachi.
Professionals Network is commonly known as Resbase Group globally.
The funds will be exclusively channeled into the company’s new Hexaoffice brand, the official said.
Hexaoffice operates on a model similar to that of Regus, a company listed on the London Stock Exchange, the statement said.
According to Abdul Aziz, a board member at the Professionals Network Pakistan, although the investment is spread over two years, the company has been conditionally committed for additional $21 million investments by the late 2011, based on how sales pickup during the first two quarters of the next financial year. As the investment is in the Pakistan operations alone.
http://www.technologytimes.pk/mag/2011/jan11/issue01/professional_network_to_invest.php
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