Ventech Solutions first CMMI LEVEL 5 company

Chennai, Dec 21 (UNI) Ventech Solutions USA and India, has become the world's first "CMMI LEVEL 5 (v1.2) company. The company was already ISO 9001:2000 certified and was preparing for CMMI Level 5 assessment since 2003.

"CMMI Maturity Level 5 has been a constructive challenge to our company in both USA and India offices. We had a very interesting experience filled with lot of excitements and surprises throughout the process and I am glad we could achieve this strategic milestone as planned," Company Chairman and CEO Ravi Kunduru told a press conference here today.

He said the remarkable achievement was possible only with the complete dedication and commitment from the staff, who had worked round the clock.

Explaining the company's growth and its future plans, Mr Kunduru said, "the company has been listed as INC 500 company for the last two years with an average three year growth of 394 per cent.

Our acquisition strategies were initiated during the beginning of this year and we have been successful with the first company fully integrated into our company as of September 30, 2006, adding 3.5 million US dollars to the corporate revenues, he said.

"We are looking at two additional companies to be acquired by March 2007, adding a possible addition of ten million dollars to the bottom line. The company is currently planning to expand and open new offices in Washington DC, New York, London, Sydney and Dubai," he added.

The company was currently expanding its India operations in Siruseri IT Park, Chennai with an estimated total manpower strength of 1000 employees by 2008. The company was also planning to invest Rs 40 crore to develop its product and solution dedicated centers in India, Mr Kunduru said.

"The company is expecting to fully operate its Siruseri R&D center by June 2007," he added.

The company which was a strong player in providing global educational software solutions in India and US, was aiming to add 20 new partners, accounting a revenue growth of Rs 36.5 crores in 2007 by deploying educational services to atleast 1000 institutions in India and USA, Mr Kunduru said.

"By 2008 we would like to be one of the key players in India providing high quality educational products and tools partnering with the public sector organisations. We focus to have atleast 10,00,000 users for our products by 2008," he added.

UNI WS AJ 1826