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ExcelaCom to invest $15 Mn in India over 3 years
By siliconindia
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Friday, 21 September 2007, 19:30 IST
Chennai: U.S.-based ExcelaCom Technologies plans to invest about $15 million (Rs 60 crore) over the next three years to build its operations in India.
The company has already invested about $5 million to set up a 1,000-seat facility at the SIPCOT IT park in Siruseri near Chennai. According to Majid Naderkhani, President and Chief Executive Officer, ExcelaCom, the company has plans to add another 1,000 seats in the next two years.
It develops platforms on which content can be sent to devices such as mobile phones, television and PCs. The Chennai facility has been operational for the last two months with about 200 employees working on high-end product development, mainly in the area of wireless software.
Presently, about 50 percent of product development activity for the company is happening from Chennai, the rest is being carried out at centres in the U.S. and Germany.
"However, over the next three years, the company plans to move all product development and application maintenance work to Chennai and retain other offices for marketing and sales," says Naderkhani.
Last fiscal, global revenues stood at about $30 million. ExcelaCom is currently developing products only for overseas markets and expects to commence studies on the feasibility of launching products for Indian users.