Financial Daily from THE HINDU group of publications
Friday, May 27, 2005
Financial Daily from THE HINDU group of publications Friday, May 27, 2005 |
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Info-Tech
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Trends Pune, a destination to reckon with for IT cos Our Bureau
Pune , May 26 MOVE over, Bangalore, Hyderabad. The world's no. 1 venture capitalist (rated on the Forbes Midas list of 2004) and the Managing Partner of Norwest Venture Partners, Mr Pramod Haque, has said: "Pune is one of the hottest cities to watch in India today." Mr Haque was in the city with AmberPoint and Veraz Networks, two of his portfolio companies, which are setting up shop to develop technology solutions here. Speaking to the press here, Mr Haque said the influence of institutions of higher education in the city is encouraging entrepreneurship just as Stanford has done in the Silicon Valley. "Smaller cities are more alluring for IT professionals and Pune has a huge advantage over other centres such as Bangalore which are becoming overpriced and overcrowded. Besides, retention of staff is a huge problem in Bangalore," he said. "Our savviest portfolio companies are opening up offshore development centers in Pune and this is a trend that will continue," Mr Haque said adding that at least half a dozen such companies are in advanced negotiations for bringing work into the city, he said. Meanwhile, AmberPoint, one of NVP's portfolio companies, on Thursday announced it is expanding its design and development teams by setting up a wholly-owned subsidiary in Pune. AmberPoint Technology India will work with the company's California-based engineering team to build future generations of the company's service-oriented architectures (SOA) management software, Mr Hohn Hubingr, President & CEO, said. "Product teams in both locations will own projects from conception through design, development, delivery, maintenance and support," he said adding that product strategy, architecture and common set of tools and procedures will unify the distributed development team. The company will invest an estimated $2-3 million in the new set up in the first year, he said adding the amount is likely to develop in the coming year. The market for SOA architecture is expected to touch $1.2 billion in 2005 and $10.9 billion by 2008. AmberPoint is a provider of SOA management and security solutions, critical components for making SOA systems reliable business assets. Meanwhile, Veraz Networks, a provider of next-generation communication networks, has also announced plans to invest $5 million in a new Pune facility to further its research and development. The company plans to double its R&D headcount at the Pune facility to 130 by the end of the year, Mr Yogesh Bijlani, Country Manager, said. India is a key market for the company with 15 per cent of its global revenues coming from here. The company will focus on providing solutions for the country's rapidly growing mobile telephony business, call centre operations and value added applications such as messaging on land line telephones, he added.
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