Intel Capital, IIML invest Rs19 cr in FutureSoft

NEW DELHI: FutureSoft, provider of communications and embedded software solutions, has announced that it has received a strategic investment from IL&FS Investment Managers Ltd (IIML) and Intel Capital that would enable it to realize its business expansion plans. IIML and Intel Capital would together invest approximately Rs 19 crore in the company.

FutureSoft would invest a major portion of the capital in building complete communication solutions to be licensed to original design manufacturers (ODMs) and original equipment manufacturers (OEMs). The company sees the scaling up of its IP business as its growth strategy. FutureSoft intends developing ‘full systems products’, complete with hardware design, in order to emerge as a ‘total solutions company’. In addition, FutureSoft would be upgrading its R&D equipment, testing equipment and laboratories. The company’s business strategy is to tie up with OEMs that have market reach while FutureSoft focuses on developing software and designing hardware. On the sales and marketing front, FutureSoft plans include opening new offices and augmenting its channel partners.

'We are delighted to receive this investment from IIML and Intel Capital,' said, FutureSoft Founder, Chairman and CEO KV Ramani. 'The investment is particularly timely, as it will help us gear up sufficiently to capitalize on the emerging opportunities as the market turnaround happens. International companies in the communication space are looking for proven technology, working products and reduction in time to market and cost to compete in the current marketplace. We will focus our growth strategy at this segment,' he added.

(CNS)