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Our Mission
We are a global outsourcing and services company with a strong presence in the Pacific Rim region and a dedicated focus on leveraging our existing business with complementary opportunities through a merger and acquisition strategy. Our mission is to identify and invest in business opportunities, apply our skills and resources to nurture and enhance the performance of those businesses across key business metrics, and to deliver accelerating shareholder value.
We are currently mobilizing our international outsourcing capability toward higher margin vertical markets such as the technology, financial, insurance, and energy sectors, which we believe will benefit from the infrastructure and business processes of IA Global. On the acquisition front, we are targeting select international growth opportunities with businesses that require improvements in management, financial processes and liquidity to be successful. In addition, we expect to leverage our Asian presence with US-based companies and investors seeking to expand their Asian presence.
On December 8, 2009, the Company deconsolidated the operations of Global Hotline, effective as of July 1, 2009. As a result, the Company accounted for Global Hotline as a discontinued operation for periods ending after July 1, 2009. Our reported net profit (loss) improved by $10.1 million for the nine months ended December 31, 2009 and our stockholders' deficit as of December 31, 2009 decreased by $10.1 million as a result of recording the deferred gain from the forfeiture of Global Hotline operations that was recorded during the three months ended September 30, 2009.
Business Process Outsourcing
In the Philippines, we acquired 100% of Shift Resources Inc. on April 10, 2008 and Asia Premier Executive Suites Inc. on May 27, 2008, multi-service call center operations that have now been merged into a single company operating as Global Hotline Philippines. The Philippines operations provides a low-cost, highly skilled work force that is well positioned to address IA Global's target markets.
To view the Global Hotline Philippines website, Click
Here
Proposed Korean Investment
On December 18, 2009, the Company received an investment of 200 million Yen, or approximately $2.2 million at current exchange rates, from the Inter Asset Japan LBO No. 1 Fund. The Company has tentatively allocated $2.0 million of the investment to establish a venture capital fund in South Korea, and it expects to use the remaining $0.2 million for working capital purposes. This is the Company's first step toward strengthening its position in servicing global technical, financial, energy, and commodity markets.
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