PortalPlayer plans rapid expansion in India

Thursday, 26 June 2003, 07:00 Hrs
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HYDERABAD: Pinexe, the local arm of the U.S.-based technology firm PortalPlayer Inc., Wednesday said the company plans to rapidly expand its business in India to provide high-end design and development services.

The company has decided to establish a dedicated offshore development centre India, said J.A. Chowdary, president and managing director of Pinexe, earlier known as PortalPlayer Pvt Ltd.

Pinexe also hopes to finalise the setting up of two additional development centres, Chowdary told reporters here, adding the Hyderabad-based company may expand its operations to Bangalore and New Delhi.

Chowdary said the company would provide a variety of customised products and embedded system design and development services to customers worldwide and would also develop its own intellectual property.

PortalPlayer Inc. owns 30 percent stake in Pinexe, and foreign investors and the company employees control the remaining equity.

Sanjeev Kumar, chief operating officer of PortalPlayer Inc, said the Indian growth model would facilitate more flexibility in serving the customers in Asia Pacific, thus enabling faster growth for both companies.

"We do not want to restrict 100 percent of our operations to U.S. economy, which is not doing well for last three years," said Kumar.

Pinexe, which began its operations four years ago, has so far invested $5 million on its operations here and has 80 employees.

Chowdary said Pinexe would offer its customers the security, stability and consistency of an in-house development team, with the flexibility, scalability and reduced overhead costs of an outsourced supplier.



Source: IANS
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