Connectiva Systems to make addl investment of 52.6 Cr Dollars

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Kolkata, May 2(UNI) Connectiva Systems, a leading software provider to the telecom industry, plans to make an additional investment of 52.6 crore Dollars in headcount and research and development in Kolkata in the next 18 months.

Taking the advantage of 30 to 40 per cent growth in the market, the company has also targeted to double its revenue to 40,000,000 Dollars this fiscal.

" We want to extend our market share leadership in India by doubling our investment to 526 million Dollars in headcount and R and D in our Global Innovation Centre (GIC), located in Kolkata," CEO Avi Basu today said.

Mr Basu said the headcount would be increased to more than 500.

The company is the market share leader in India in providing revenue and risk management solutions, and the India operations already contributes ten per cent to its global revenues.

"Connectiva's GIC in Kolkata plays an integral role in the global success that the company is enjoying. The GIC in Kolkata currently has over 250 employees with strong academic and professional backgrounds," the CEO said.

UNI KDG KK RN1841

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