The Hindu Business Line : Apere sets up India centre, to invest $2 m

APERE Inc, a network security solutions provider, has announced the establishment of its India development centre in Hyderabad where it expects to invest $2 million this year and about $25 million in two years.

The Founder Chairman and Chief Executive Officer of Apere, Mr Ram Jayam, said the company had identified theft as a major cause for concern for global corporations, particularly in the banking and financial services industry. Apere seeks to provide a solution that addresses this market.

Apere was formed earlier this year by a team that founded Platys Communications, a network processor company. (Platys was acquired by Adaptec for $150 million.) The new company headquartered in the US will host its development cum support centre in Hyderabad.

"Initially, the company will have about 50 people and this would be ramped up to 150 by year-end. It has so far invested about $1.5 million and expects to deploy about $2 million later this year. Apere's first product is expected to be shipped later this year," Mr Jayam said.

"Apere planned to handle here the entire product life cycle management, including development, training and sales support, he said.

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