French IT firm to invest in India facility

Wednesday, 01 December 2004, 20:30 IST
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BANGALORE: ESI Group, the leading provider of digital simulation software and prototyping, will invest $5 million in India during the next three years to expand its operations, including hiring. The Euro 49-million French firm has set up its India software development facility in Bangalore after acquiring the software business of EASi for $5 million in late 2003. ESI Software India will develop software products for virtual simulation. "The facility will implement a realistic and open CAE (computer-aided engineering) simulation environment, strengthening our virtual solutions," ESI Group CEO Alain de Rouvray told reporters here Tuesday. The India facility will also develop Open VTOS, a visual environment platform, for the group's 2G and 3G solutions. Over the last one year, the Indian subsidiary sold software products and solutions valued at $400,000 to auto giants such as Tata Motors, General Motors and foundries for casting purpose. The company will be doubling its headcount to 100 techies in the next two to three years. The work represents high-end of the value chain, including product development. With the automotive sector contributing 50 per cent of its revenues, the group is targeting about $80 million revenue for the current calendar year. Some of its auto clients are Audi, Alstom, Daewoo, Daimler-Chrysler, Renault and Skoda. Customers from defence and aviation sectors include NASA, Boeing, GE and the US Navy among others.
Source: IANS
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