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Our Bureau

Chennai , Dec. 21

The US-based software company Ventech Solutions, with development centre in Chennai, will invest Rs 40 crore in a new centre at Siruseri Information Technology Park on the Old Mahabalipuram Road. The 1-lakh sq. ft. centre would start operations in June 2007 and have around 1,000 employees by 2008, according to Mr Ravi Kunduru, Chairman and CEO, Ventech Solutions.

The Rs 40-crore Ventech employs 125 people in Chennai and another 125 in the US, he told newspersons.

The company provides software products and services to companies such as Ford, Honda (US), Lexmark and various American universities. It plans to acquire two companies — one in the US and another in Hyderabad — by March 2007. The two companies would bring in additional revenue of $10 million, he said.

It plans to go public in India by 2008 to raise around $100 million (Rs 450 crore), he added.

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