EscrowTech to start Indian operations

BANGALORE: US based EscrowTech International is partnering with Chennai based Global Business Solutions to start a escrow software company in Chennai this April. The new company, to be called EscrowTech India, would focus on providing professional software and technology escrow services to clients in India.

The firm would handle intellectual property archives and IP audit trails and escrows across a range of areas including ASPs and hosted environments, e-commerce transactions, databases, encryption keys, passwords and settlements.

In a statement to the media, EscrowTech senior VP, Jon Christiansen said, "We see India as a fertile market for these services. Indian businesses and technical and legal professionals are increasingly aware of the need for software and technology escrows as well as IP archives and IP audit trails."

The Chennai office would also have a high security, electronically monitored storage deposit facility. EscrowTech International's clients include Fortune 500 companies, VC firms, financial institutions, law firms and educational institutions.