SAP to invest $24 M in Indian facility

Wednesday, 04 August 2004, 19:30 IST
Printer Print Email Email
BANGALORE: SAP AG, one of the world's leading enterprise software providers, Tuesday committed to invest $24 million to expand its software development facility here. The fresh investment will enable the German company's wholly owned Indian subsidiary, SAP Labs India, to treble its employee strength to 3,000 by 2006 from 1,100 currently. "The additional investment and hiring will make our Indian facility the second largest hub after the headquarters at Waldrof in Germany," SAP CEO Henning Kagermann told reporters here. Lauding the quality of global products developed by SAP Labs, Kagermann said the development centre would grow even faster with innovative products. "India has been at the forefront of setting benchmarks in the industry with world-class IT development and an impressive talent pool. "We can ramp up talent here in a short time as young engineers are highly skilled and qualified, which is an advantage," Kagermann said. SAP Labs will develop products for the global market. According to SAP India president Alan Sedghi, the growth plan will focus on reach into all industries and geographies, besides small and medium businesses. "We are confident with this strategy, we will be able to grow our business at least 1.5 to two times the industry size," Sedghi said.
Source: IANS
siliconindia