NetFabric Completes Formalities for Formation of Subsidiary in India.DENVILLE, N.J. -- NetFabric Holdings, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: NFBH) (NetFabric) today announced that it has completed formalities in the formation of its subsidiary NetFabric Technologies India Pvt. Ltd.. The subsidiary with a delivery center based in Pune, India, will perform Business Process Outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in (BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ), Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. Outsourcing (HRO HRO Housing Referral Office HRO Rostock (Germany, auto license plate) HRO Human Resources Outsourcing HRO Hogeschool Rotterdam (The Netherlands) HRO Human Resources Office HRO Ham Radio Outlet ), Managed Services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality and Software Development operations for the Company's clients. The center has been in operation for some time and has processes and employees with prior experience of outsourced service delivery for external customers in addition to meeting internal requirements. "We believe that the addition of an offshore delivery center with mature service and process capabilities, will compliment our onsite offerings for existing Fortune 500 customers in the financial and hospitality verticals. Further, this will enable us to service the growing domestic IT services market in India," said Fahad Syed, Chairman and Chief Executive Officer of NetFabric. About NetFabric Holdings Inc. NetFabric provides IT Solutions and Services to a prestigious list of Fortune 500 companies with a specialty in mission critical applications and services for the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. NetFabric's wide range of services and solutions includes designing and developing software applications, taking ownership of outsourced business processes, managed services, and building integrated infrastructure systems. Enterprise clients rely on NetFabric to pull together the right products and services required as solutions to meet their technology needs while delivering the most efficient and cost-effective solutions on time and within budget. For more information about NetFabric, please visit its website at http://www.netfabric.net Safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements: The foregoing contains "forward-looking statements," which are based on management's beliefs, as well as on a number of assumptions concerning future events and information currently available to management. Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside NetFabric's control, that could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please see NetFabric's filings with the Securities and Exchange Commission. NetFabric disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of NetFabric. |
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