Mentor Graphics to invest
$50 million in India
HYDERABAD: Walden C. Rhines, chairman and CEO of the U.S.-based company, said here that the firm would invest two-thirds of the amount at its Research and Development Centre in Hyderabad and the rest at its centre at Noida on the outskirts of New Delhi.
The company, which has 100 employees in Hyderabad and 75 at Noida, also plans to double the staff strength in five years.
Rhines, who is visiting India to assess the growing capabilities of Hyderabad and Noida centres, said India was a fruitful place to build unique capabilities for its customers.
He said the company had identified Hyderabad as a strategic technology centre for its future products and operations.
"We plan to expand the Hyderabad centre by 100 percent by 2005 to tap the high quality engineering talent available in this country," he said.
"We are rapidly moving up the R&D value chain with a clear focus on new product R&D," said Srini Mandavilli, managing director of Mentor Graphics India (MGI).
MGI, a fully owned subsidiary of Mentor Graphics Corporation, was established at Hyderabad in June 1997. Hyderabad is the largest R&D centre of the company outside the U.S.
Located on 20,000 sq feet facility, it plans to have its independent campus by early 2004. The company has so far invested $20 million in India.
Mentor Graphics has an annual revenue of more than $600 million. It invested more than half a billion dollars in product development since 1996 and launched 70 innovative products. It holds some 80 patents covering 12 core technologies.
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