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News >> Technology >>
Vedams to invest $2M, sets up new subsidiary
By agencies
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Friday, 24 February 2006, 20:30 IST
HYDERABAD: Vedams Software Solutions, a 100 percent subsidiary of San Jose, CA based Vedams Inc. has opened a subsidiary in Hyderabad at an investment of $2 million.
Vedams Software Solutions is an Offshore IT Consulting & Software Development Company providing Internet based strategies and Enterprise storage solutions to Fortune 1000 companies, start-up businesses and to the U.S. Government.
Hemendra Allu, Director of Vedams and Incharge India Operations said the new facility is being set up with a built up area of 20,000 sq. ft. spanned over 3 floors. It will focus on software development and systems testing. The centers R&D involves software research, development and testing in new technology platform supporting emerging grid based storage, Storage Virtualization and high availability Network Storage Systems.
Vedams has selected Hitec City, Hyderabad, as the site for its next major offshore development center. When it is fully operational, the facility is expected to employ up to 200 people.
With the expansion, Vedams will employ more than 100 highly trained engineering professionals by the end of 2006 in Hyderabad, said Allu.
Currently Vedams has a human resources base of 40 and would touch 100 or even more, the way the company has drawn its ambitious expansion plans. Vedams manpower comprises of Software Engineers, MBAs, CAs and Data Entry Specialists. The current level of Rs 2 crore is projected to go up to 4 crore by the end of the year 2007.