Financial Daily from THE HINDU group of publications
Friday, Oct 08, 2004
Financial Daily from THE HINDU group of publications Friday, Oct 08, 2004 |
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Info-Tech
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Mergers & Acquisitions `Netegrity buy important to India' Our Bureau
HYDERABAD: Computer Associates (CA), which has announced a move to acquire Netegrity, a provider of security software solutions, for approximately $430 million, sees its Indian operations expanding its company portfolio and reach in the domestic security market. The Head of CA India operations, Mr Ninad Karpe, in a statement said: "Netegrity is a leader in the identity and access management and the acquisition would help us broaden our footprint in the emerging Indian security market." He added: "The recently published IDC study highlights that the security software market in India will grow at a CAGR of 36 per cent until 2008, touching Rs 481 crore from Rs 105 crore in 2003. In this, the security software segment is expected to post the highest 42 per cent growth, moving up from Rs 24 crore to Rs 137 crore. This is where the Netegrity acquisition by CA becomes important to the Indian market."
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