Financial Daily from THE HINDU group of publications
Saturday, Mar 26, 2005
Financial Daily from THE HINDU group of publications Saturday, Mar 26, 2005 |
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Info-Tech
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Storage StorageTek to invest $10 m in India arm Our Bureau
Bangalore , March 25 STORAGETEK, the US-based storage solutions company, on Thursday announced the setting up of an Indian subsidiary with plans to invest $10 million over the next three years. As part of the India plans, StorageTek will strengthen India sales and engineering support, provide second-level engineering support to partners, product development out of Bangalore and Pune centres as well as provide second and third level of engineering support to European customers, said Mr Andy Srinivasan, Regional Director, StorageTek Asia South Pacific. "We expect to hire 80 people this year and the number could go up to 400-500 in about three years," Mr Srinivasan said. StorageTek has over 2,300 service professionals catering to 17,000 customer data centres and over 1,500 development staff, he said, adding that most development is happening out of the US. StorageTek has over 450 people from Third Party providers Wipro, MindTree and Gavs currently working for it. "Currently we plan no overlap but when the Bangalore and Pune centres mature, there might be some definition of roles," he said. The company invested over $260 million in R&D, accounting for nearly 13 per cent of its $2 billion revenues last year.
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