Vedams plans to invest 2 million US dollars
Hyderabad, Feb 24 (UNI) The City based, 100 per cent subsidiary of Vedams Inc. San Jose, Vedams Software Solutions has embarked on a major expansion plan with an estimated investment of 2 million US dollar over the next 10-12 months.
To sustain the growth, the company is setting up a state-of-the-art technology facility in the IT Corridor in Hi-tec city.
Disclosing this at a press conference here Mr Hemendra Allu, Director of Vedams and incharge India operations said the new facility was being set up with a built up area of 20,000 sq. ft.
spanned over three floors. ''It will focus on software development and systems testing. The centre's R&D involves software research, development and testing in new techology platform supporting emerging grid based storage, storage virtualisation 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 upto 200 people.
With the expansion, Vedams will employ more than 100 highly trained engineering professionals by the end of 2006 in Hyderabad, said Mr Hemendra Allu. 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.
UNI SM VV SM1925