The Hindu Business Line : Capital IQ to invest $3 m in India centre

CAPITAL IQ, a New York-based information solutions provider for the global financial community, has announced the opening of a new research and development centre here and plans to invest about $ 3 million this year that would see the addition of about 300 more techies in the Hyderabad centre.

Speaking to newspersons, the Managing Principal, Mr Steven Turner, and the Executive Director of Indian operations, Mr Madan Mohan, said that the company has so far invested about $ 7 million in Indian operations and plans to invest about $ 3 million more this year in infrastructure and manpower. The company has so far raised about $50 million.

"We have grown from seven people to a research centre hosting top calibre information professionals. While 700 people are based in Hyderabad, the company plans to add about 300 people this year. This is complemented by another centre in Gurgaon which has about 125 people," Mr Madan Mohan said.

"The company provides financial information to corporates across the globe and not opinions on companies based in the US, Canada and Europe. The information is procured from various stock exchanges and is developed into analytical data. We do not venture into opinion. This data is trusted and utilised by over 700 of the most prestigious financial institutions, advisory firms and corporations in the world," Mr Madan Mohan said.

"Our Indian team has been and will continue to be a key driver of our growth," Mr Turner said.