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RMSI Incorporates Legal Entity in North America and Plans Aggressive Growth 08.12.2003

August 12, 2003
This follows the change in ownership of RMSI from Risk Management Solutions of California to DMG Information.

RMSI, a global IT services company, announced that they have incorporated, in Silicon Valley, a wholly owned subsidiary, RMSI Inc. with an equity base of US $2 million. This follows the change in ownership of RMSI, announced last year, from Risk Management Solutions of California, to DMG Information, the information business division of the Daily Mail and General Trust Group. Premal Mehta, Vice President, RMSI is based at the company’s Newark office.

Commenting on the incorporation of the US subsidiary, Ajay Lavakare, Chief Executive Officer, RMSI, says, "Following our separation with Risk Management Solutions, the establishment of our own legal entity in the US constitutes a significant step in the pursuit of our independent growth plans. It is also a clear signal of our commitment to the US market. The US entity provides us with the opportunity to be closer to our clients, build alliances with local partners in providing innovative & customized IT solutions and aggressively pursue organic as well as inorganic growth strategies in the world's largest GIS market."

With 70 percent of RMSI's revenues coming from the US, the charter of the US entity is to increase the company's sales and marketing initiatives, strengthen its local market presence and help consolidate its position as a trusted & reliable GIS and IT service provider. The company's US office will comprise a highly qualified work force that will provide on-site consultancy and technical support to clients.