Business Daily from THE HINDU group of publications
Friday, Mar 16, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Mar 16, 2007 ePaper |
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Info-Tech
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Software Progress Soft to invest $10 m on expansion Our Bureau
Hyderabad March 15 Progress Software plans to invest up to $10 million within three years in expanding and consolidating its India development centre based in Hyderabad. The Vice-President of Progress Software, Mr Bill DeLong, told Business Line that the company has thus far invested about $5 million in India and has created a development centre whose mandate has grown over the last two years to cover about nine products from initial two. "As a company that provides software to simplify and accelerate the development and deployment of business applications, we see the market in Asia Pacific region, which accounts for about 20 per cent of the company business, going up significantly," he said. The $450-million company has made some five acquisitions in the last two years and sees M&A strategy continuing to complement its internal expansion plans. "Being a research driven centre that has quickly grown into a full fledged operation, we expect to scale up work from India bringing in more product development that complements the increasing sales in the areas of Services oriented Architecture (SoA)," Mr DeLong said. Its products help in increasing application developer productivity and reducing time for development. They also simplify integration of applications and data across enterprises and between enterprises.
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