Business Daily from THE HINDU group of publications
Friday, Sep 21, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Sep 21, 2007 ePaper |
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Info-Tech
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Off-shore Development ExcelaCom to invest $15 m in India over 3 years Our Bureau Chennai, Sept. 20 US-based ExcelaCom Technologies plans to invest about $15 million (Rs 60 crore) over the next three years to build its operations in India. It has already invested about $5 million to set up a 1,000-seat facility at the SIPCOT IT park in Siruseri near Chennai and plans to add another 1,000 seats in the next two years, said Mr Majid Naderkhani, President and Chief Executive Officer, ExcelaCom. The company develops platforms on which content can be sent to devices such as mobile phones, television and PCs. The Chennai facility has been operational for the last two months with about 200 employees working on high-end product development, mainly in the area of wireless software. Currently, about 50 per cent of product development activity for the company is happening from Chennai, the rest is being carried out at centres in the US and Germany. However, over the next three years, the company plans to move all product development and application maintenance work to Chennai and retain other offices for marketing and sales, Mr Naderkhani said at a press conference. He did not share the revenues targeted for the current fiscal but said global revenues stood at about $30 million last fiscal. ExcelaCom is currently developing products only for overseas markets and expects to commence studies on the feasibility of launching products for Indian users. More Stories on : Off-shore Development | Software
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