Gemstone Systems to invest over $ 1bln in India

Mumbai, Nov 2 (UNI) Gemstone Systems, a US-based privately held infrastructure software services company, will invest over one billion dollar in the country to develop a distributed data management service for the financial sector.

Gemstone Systems provides data services solution for enterprise business architects and data infrastructure managers.

The company, which currently operates in the US and Japan, has recently opened its development centre in Pune.

It plans to invest heavily in research and development activities to develop a distributed data management system solution for blue chip companies.

After announcing the company's future plans in India here today, Gemstone Systems President Richard Lamb said, ''We have big plans for India and especially in our domain of business we have to source the specialised IT talent pool from India.'' The company was founded in 1982 and has more than 200 global clients which includes clients like JP Morgan, IBM and HCL.

UNI