Iris Computers gets financial backing from JMG

Indian distribution-focused company Iris Computers has found a financial investor in
the form of US-based JMG Exploration. As part of the arrangement, the oil and gas company
JMG Exploration will invest up to $5 million in Iris Computers to provide it financial
muscle for its expansion plans in India over the next one year.

"We have been looking forward to doubling our business operations from the present
Rs 500 crore to over Rs 1,000 crore mark. This financial investment will help us achieve
this figure in a timely fashion. Hong Kong based-OFS capital group has helped us in terms
of identifying this financial investor," informed, Sanjiv Krishen, Chairman, Iris
Computers.

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SANJIV KRISHEN:
The investment of $5 million will help Iris double its business operations from the
present

Rs 500 crore to over Rs 1,000 crore mark

Despite Iris getting financial backing from the oil and gas focused organization it
will continue to work with the existing management and policies in the market. "We
will continue to work like we have done for the past many years. So there will be no
changes in the way we work at all," Krishen added.

At present, Iris is focusing its efforts in terms of distributing products from global
vendors like IBM, Lenovo HP and BenQ. Moving forward, the company will continue to work
its way forward on expansion mode.

"With this funding in place, we would surely be looking at adding more products to
our portfolio. Of course, we will continue to focus on our existing products from vendors
like IBM, HP or Lenovo," he added.

At present, Iris has its offices at 24 locations within India and with this funding in
place, expansion of its offices is on the cards as well. "Yes, we would be expanding
our offices in India. This year, we would be adding another five locations. Our primary
objective is to provide better options for our vendors and the channel community," he
added.

Iris Computers was established in 1995 by Sanjiv Krishen, an entrepreneur with over 30
years in the computer distribution business in India and the Middle East. Today it covers
more than 30 distribution points and 1,100 channel resellers throughout India.