Financial Daily from THE HINDU group of publications
Tuesday, Feb 03, 2004
SoftPro arm to focus on Linux
Hyderabad , Feb. 2
SOFTPRO Systems Ltd, a Hyderabad-based software company, has announced the creation of a wholly owned subsidiary called Softpro Technologies that will focus on open source technologies and Linux.
The company also plans to raise funds to part finance its expansion plans, with the first round in the next three months.
The Managing Director of Softpro Systems, Mr Chand Akkineni, and the Chief Executive Officer, Mr Venkat Rao, said that the Linux subsidiary will position itself as an open source technology integrator.
It will seek to bridge the gap between open-source platform vendors and enterprise customers.
The subsidiary started with about 25 people recently and expects to grow to about 100 by the end of this year.
Speaking to newspersons, the company management said that they were looking at raising up to $2 million in phases over the next 2-3 years.
The first phase of funds will be completed in the next three months.
During the last year, the company invested about Rs 1 crore towards research initiatives including funds to create the Linux subsidiary.
The company facility located near the Hitec City is now working on two projects, including developing an integrated network security platform for a European customer.
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