Reveda may start software development soon

The Dubai Internet City based IT solutions provider, Reveda - which was spun off from the UK's BAE Systems last year - expects to start some form of software development in Dubai and, if everything goes on schedule, this could even start from next month.

The office here, set up in the fourth quarter of 2002, already handles its worldwide sales and operations.

Simultaneously, the promoters are in negotiations with some Indian firms about the possibility of doing some of the development in that country, according to David Burton, Reveda's chief executive. Currently, all development is done in the UK.

Targeted at enterprises, Reveda offers process management solutions which allow clients to keep track of their business processes, analyse trends and enable best practices to be identified and reproduced.

Available in modular format, the solutions can cost a business anywhere from $50,000 to $125,000, depending on the requirements.

"When the Dubai office was first set up, it was to develop our business in the Middle East, Africa and Asia. However, the focus has changed slightly, and it is our intention to have some development done here and in India," noted Burton.

"Growth opportunities in Asia would exceed what's available in the Western markets in the next couple of years. European sales will also be handled from here.

"We have no direct competition in our business, and our modules can be linked to any platform, be it SAP, Oracle or Microsoft. Going forward, I see us partnering with institutions and universities on new solutions and get better market access."

While declining to mention any clients, Burton confirmed that interest has come in from certain governmental and larger businesses in the Gulf.

BAE Systems - Ventures holds a 49 per cent stake in Reveda.

On the current scope for venture capital investors looking at the IT sector, David Allott, managing director of BAE Systems - Ventures, commented: "Times are tough for VCs, but I still maintain that if a good business proposition comes up, we will be very interested in it. It will not be an issue for us to raise monies to make those investments."

Itself a recent creation within the highly diversified £13 billion group, which has extensive interests in the defence and aerospace industries, BAE Systems - Ventures' current investments totals over £10 million.

"These have mostly been on UK businesses, but some are U.S. spinouts as well. We are currently evaluating 50 other opportunities which are in the pipeline," said Allott.