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Tamil Nadu government and TaskUs sign MoU for new Chennai Technology Center of Excellence
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
TaskUs (NASDAQ: TASK) has signed a Memorandum of Understanding with the Government of Tamil Nadu to establish a Technology Center of Excellence in Chennai. This center will initially create 150 jobs, contributing to the local economy. The Tamil Nadu government has promised infrastructural and regulatory support for the project. TaskUs has been expanding in India since its entry in 2019, now employing around 6,000 people across three locations. The company emphasizes its commitment to enhancing workplace culture and job opportunities in the region.
Positive
Establishment of a Technology Center of Excellence in Chennai, enhancing operational capabilities.
Creation of 150 new jobs contributing to local employment.
Strong government support for infrastructure and regulatory facilitation.
Expansion of TaskUs' workforce to approximately 6,000 employees in India since 2019.
Negative
None.
CHENNAI, India--(BUSINESS WIRE)--
TaskUs (Nasdaq: TASK), a provider of outsourced digital services and next-generation customer experience to fast-growing technology companies, signed on Monday a Memorandum of Understanding with the Government of Tamil Nadu to pursue plans of setting up a Technology Center of Excellence for its shared services in Chennai.
The partnership was formalized through a signing ceremony at the Taj Coromandel, Chennai. Chief Finance Officer Balaji Sekar and Senior Vice President of Operations Sapna Bhambani represented TaskUs, while the government of Tamil Nadu was represented by Pooja Kulkarni, Managing Director and Chief Executive Officer of Guidance, the nodal agency for investment promotion and facilitation. The ceremony was presided over by Chief Minister Mr. M.K. Stalin.
TaskUs’ project will employ around 150 people to start with in the new facility, remaining true to its commitment to providing jobs and career growth opportunities to Indians. Given the tangible economic and social benefits related to the project, the government of Tamil Nadu assured that they will provide the necessary infrastructural support and regulatory facilitation.
“The government of Tamil Nadu is delighted that TaskUs has chosen Chennai as the location for adding technology and back-office capabilities to support their growth in India and worldwide. TaskUs is among the fastest-growing companies in its industry and will bring a number of jobs across different functions including tech and finance to the city and state,” said Tamil Nadu Industries Minister Thangam Thennarasu.
Ever since TaskUs came to the country in 2019, the company has always prioritized serving the Indian market through continuous improvement of its workplace culture, perks and benefits, and facilities. This contributed to India being TaskUs’ fastest-growing market in the company’s history.
“Needless to say, it has been an amazing three years with India so far, and we look forward to all the ridiculously good things we will be able to experience here. After all, India’s culture heavily resonates with ours; it is highly diverse, eccentric, and ever-innovating,” said TaskUs’ Bhambani. “With this new venture in Chennai, as well as the recent launch of our new sites in Gurugram and Mohali, we hope to further expand the TaskUs’ ridiculously amazing culture across India.”
TaskUs currently has three sites in India. Since the launch of its first site in Indore in 2019, the company has grown to 6,000 employees as of December 2021, making India the fastest-growing location in TaskUs’ history.
To learn more about TaskUs, visit https://www.taskus.com or the following social media accounts:
TaskUs is a provider of outsourced digital services and next-generation customer experience to fast growing technology companies, helping its clients represent, protect and grow their brands. Leveraging a cloud-based infrastructure, TaskUs serves clients in the fastest-growing sectors, including social media, e-commerce, gaming, streaming media, food delivery and ridesharing, HiTech, FinTech and HealthTech. As of March 31, 2022, TaskUs had approximately 45,800 employees across twenty-three locations in 12 countries, including the United States, the Philippines and India.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. These forward-looking statements include any statements regarding the offering of TaskUs Class A common stock. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors include but are not limited to those described under “Risk Factors” in the registration statement relating to the public offering. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the registration statement. TaskUs undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.
