Hyderabad, Dec 12: 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.
News Channels
Kerala News
Photo Gallery
