Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Symphony Services to invest $100 million in India
By siliconindia staff writer
|
Thursday, 06 November 2003, 20:30 IST
BANGALORE: US-based technology services provider Symphony Services said on Thursday that it will ramp up its Indian operations to 2,500 in 12 months and invest over $100 million in the next three years.
"We have already invested over $50 million and have a strength of 650 professionals. We are planning to touch about 2,000 to 2,500 in another 12 months and invest $100 million on people, infrastructure and equipment over the next three years," Symphony Services chairman Romesh Wadhwani said.
He said the Indian operations were aiming at a revenue of $100 million by next fiscal and would be a $500 million firm in the next three years.
Symphony Services, a subsidiary of the privately-held Symphony Technology Group, aimed to position itself as a Business Transformation Outsourcing (BTO) provider, with focus on high-end software development for commercial software providers and solutions for firms in telecom, energy and IT domains and advanced analysis, among others.
"We have different business arrangements like annual fee, equity ownership, royalty among others with customers," Symphony Services CEO Robert L Evans said.
Wadhwani maintained that Symphony would not enter the product domain nor compete with its customers. Symphony's customers include Siebel, Trigo, RPM and IBM among others.