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June 18, 2007 (LBO) – Amba Research, an investment research outsourcing firm which raised new venture capital financing Monday, is planning to expand operations in Sri Lanka, officials said. Over the last two years the government absorbed 42,000 unemployed graduates into the already bloated public sector, while outfits like Amba is searching high and low for graduates with English language skills. The firm has just conclude a round of financing from Helion Venture Partners, a 140 million dollar India-focused firm specializing in technology-powered businesses such as outsourcing, internet, mobile and technology products.

“We are planning to increase our staff in Sri Lanka by 50 percent from the current strength of 210 in the next 12-months,” Amba Research Sri Lanka Managing Director Ravi Abeysuriya told LBO.

Amba Research’s Sri Lanka research centre was set up in October 2003, and now has research centres in Bangalore and Costa Rica and offices in New York, San José, London and Singapore.

It was founded by a group of investment bankers as a knowledge process outsourcing (KPO) firm to provide equities, fixed income, credit and quantitative research for Wall Street and other marke