Hyderabad, Dec 12 (IANS) Innominds Software, a leading US-based
provider of outsourced software product engineering, Tuesday announced
the launch of its second product engineering innovation centre here.
The company, which has its base in Santa Clara,
California, plans to invest $5 million over the next two years to
expand its operations here and is also looking to set up a facility in
Bangalore.
The new facility spread over 20,000 square facility at
Info City will boost company's fast track growth strategies in
application and tools independent software vendors, mobile and telecom
markets globally, said Rao Vemula, co-founder and CEO, Innominds.
He told a news conference that the new centre would
offer extended product engineering know-how and collaborative research
support for Innominds' growing list of customers worldwide.
'We are confident, our new investments in India will
enable Innominds to expand its market share in the outsourced software
product engineering sector and fuel our target revenue growth of more
than 100 percent on a year-to-year basis for the next two years,' he
said.
The company, which had revenues of $5 million during
2005-06, has set a target of $8 million for the current year. 'In the
next four years we expect the revenues to touch $40 million,' said Rao.
Divakar Tantravahi, co-founder and managing director,
said the company which presently has 350 to 400 employees, planned to
increase the headcount to 1,000 over the next two years.
He said the company invested half a million dollars in
setting up its second facility in Hyderabad and planned to invest a
similar amount to expand the operations next year.
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