Intel funds Ilantus Technologies

By ST Team   |   Thursday, 14 September 2006, 19:30 IST
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BANGALORE: Identity and access management (IAM) services provider Ilantus Technologies announced that it has received funding from Intel Capital. The investment, yet undisclosed, would go into scaling up the company’s operations, stated Binod Singh, president, CEO and co-founder of Ilantus Technologies. Setting up of a new global proof of concept center is the Ilantus’ primary concern at present. Singh also added that company has an aim of doubling its manpower to 200 by November end and is also looking at inorganic growth by acquiring some companies. Using Intel’s capital, it is also expected to spread out to Sydney and Dubai. “We plan to provide high value consulting and IP development services in the IAM space to global clients. According to analysts, IAM counts among the top three high growth IT segments,” he added. With increasing incidences of corporate fraud, compliance mandates and business complexities in major industries such as banking and finance, BPO and telecom, the demand for IAM in enterprises is on the rise. The IAM segment has matured of late, said Singh; its market size is expected to grow from $4.8 billion in 2005 to $10.7 billion in 2007. Ilantus is Intel Capital’s eighth investment venture in India since January this year. The latter has a total venture amount of $250 million to fund Indian companies. Intel Capital India director Kumar Shiralagi said that the company would continue to support organizations that work on computing and communication technologies.

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