KUBC.L Regulatory News (KUBC)

26 Jun 2007 17:04

Kubera Cross-Border Fund Limited26 June 2007 Kubera Cross-Border Fund Limited KUBC invests US$20 million in Global Top 20 Training Outsourcing Service Provider - Adayana Inc. Kubera Cross-Border Fund Limited ("KUBC") (LSE: KUBC), an investment companytraded on the AIM market of the London Stock Exchange, is pleased to announcethat it has acquired a significant minority interest in Adayana Inc. ("Adayana")for an equity investment of US$20 million (including the pro rata investment byaffiliates of Kubera Partners, LLC, the Investment Manager of KUBC). Adayana is a learning services outsourcing company headquartered in Minneapolis,Minnesota, US with offshore development operations in Hyderabad, India. Thecompany provides a range of technology-enabled learning services to a focusedset of vertical markets that include automotive services; defence; food,agriculture and life sciences; and training outsourcing. Its range of solutions and services includes strategic business alignmentconsulting; custom e-learning content development; licensing of customizablecontent libraries, learning technology integration and maintenance; and managedlearning BPO services. Adayana uses technology as an underlying enabler tosupport the training needs of its clients. The company featured among the Top 20Companies in the Training Outsourcing Company Industry for 2006 according toTrainingoutsorcing.com, a leading training industry research firm. Adayana has grown over the years through strong organic growth as well asacquisitions in India and the US. The company effectively uses a cross-borderbusiness model, with sales, support, and other customer-facing functions in theUS and other markets supported by a strong development organization in India.Adayana's India-based operations in Hyderabad are ISO 9001:2000 certified, andserve the company's global customers including customers in the company'srapidly expanding South Asian market. Commenting on the new partnership, Rajiv Tandon, CEO of Adayana Inc., said, "Wewere looking for a partner that could help us grow direct sales in the US,Europe and emerging markets, identify and close acquisitions, assist in buildinga world-class Indian delivery operation and also help with our rapidly growingtraining outsourcing business serving the South Asian market. Kubera Partners,LLC's ability to add value in a cross-border sense, uniquely qualifies them tohelp with businesses such as ours." Kumar Mahadeva, Managing Partner at Kubera Partners, LLC said, "We conducted anevaluation of the training outsourcing market and our conclusion was thatAdayana is well positioned to grow rapidly as clients increasingly outsourcetraining to address skill shortages and improve performance. Adayana is wellpositioned because of its leadership in e-learning and other technology-basedlearning services, vertical market knowledge, dual-shore delivery capability andworld class management. We are delighted to be the company's investmentpartner, and look forward to supporting the business in both its organic andinorganic growth." Kubera Partners, LLC as the investment manager of KUBC, invests in cross-bordercompanies that are Western headquartered and seek to leverage India and Asiabased resources for availability of talent or access to new markets; andcompanies headquartered in India and Asia that seek to expand in Western marketsthrough acquisition or sales force development. Kubera Partners, LLC isdifferentiated by the track record of its principals and their complementaryexperience. On behalf of KUBC, Kubera Partners, LLC aims to invest between US$20 million andUS$40 million per investment but can make significantly larger investments whereappropriate. Further details on the investment manager can be found atwww.kuberapartners.com. For more information contact: Kubera Partners, LLC (Investment manager of Kubera Cross-Border Fund Limited)Kumar Mahadeva, Managing PartnerTel no: +1 (212) 295 2400 Adayana Inc.Rajiv Tandon, CEOTel no: +1 (952) 830 0610 Grant Thornton Corporate Finance (Nominated Adviser)Philip Secrett, PartnerTel no: +44 (0) 20 7383 5100 LCF Edmond de Rothschild Securities Limited (Broker)Hiroshi FunakiTel no: +44 (0) 20 7845 5968 KeyBanc Capital Markets (Exclusive Adviser to Adayana)Hector ChaoTel no: +1 (415) 733 2474 This information is provided by RNS The company news service from the London Stock Exchange