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Intoto to invest $15 million in India
By siliconindia staff writer
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Thursday, 01 April 2004, 20:30 IST
HYDERABAD: Intoto Inc., a leading provider of integrated security, wireless and voice software platform products to networking and communications equipment manufacturers, has announced that it will invest over $15 million for the expansion of its India Operations.
Recently, Intoto secured $11 million of funding led by AsiaTech Management and a corporate partner. This funding will fuel rapid expansion of operations in India and the US which will help Intoto drive further into profitability and fuel efforts to accelerate market momentum.
"Intoto India is integral to our operations and we will continue to expand our operations in India", said Sathyan Iyengar, president & CEO of Intoto Inc. "We plan to invest over $15 million USD in the next 5 years for the expansion of our operations under the current business plan and we expect to increase it substantially in the future. We stand by our long-term commitment in expanding the operations in India."
Intoto's R&D center in India, Intoto Software India Pvt. Ltd. (Intoto India) has been in the forefront of Intoto operations. Intoto India has been responsible for the design, development and maintenance of all Intoto's communication products and it is uniquely placed to address needs of future broadband and enterprise communication equipment requirements. In addition, Intoto India provides customer support for the customers in Asia Pacific region. Intoto Inc. has customers worldwide including some Network
Equipment OEMs in India providing gateway devices and security appliances.
"Since its inception, Intoto India focused on building niche products in the area of security, voice and wireless technologies for the OEMs in the communication market", said S N Murthy, President & COO of Intoto Software India Pvt. Ltd., "As part of the expansion, the company would increase its current employee strength from 120 to 160 in Hyderabad this year and start new offices in other cities in India in future. In addition, we have extended our Hyderabad facility by moving into a new 22,000 square feet space in Banjara Hills to broaden and scale up our technical research and development teams".