AremisSoft opens R&D center

BANGALORE: The $73 million AremisSoft Corporation of the US has opened its

R&D center at the International Technology Park in Bangalore. The center

aims to provide Internet technology, Internet telephony and Web-enabled

enterprise wide application software solutions designed to aid mid-sized

vertical segments like manufacturing, healthcare, construction and hospitality

sectors. The Nasdaq-listed AremisSoft already has a development center in Delhi.

Speaking about its expansion, AremisSoft managing director MC Mathew said,

"As part of our business strategy to create a presence in the Asian market

and to complement and expand our existing business and product offering, we have

decided to go for another development center in India. Bangalore being the

software hub of the country, we have decided to open our development center

here." Through this expansion, AremisSoft is shifting its India

headquarters to Bangalore from Delhi.

In addition to this, AremisSoft is in talks with mid-sized product companies

for a possible acquisition. "We are looking to acquire 3-4 product

companies, with a turnover of around Rs 5 crore to Rs 10 crore in next 3 months.

We think that these companies will add value to our existing product line. Talks

are already in an advanced stage, but because of non-disclosure agreement we can’t

give their names. But these companies are based in Bangalore and Chennai,"

said AremisSoft chief financial officer Alex Eapen.

Along with the ITPL center, AremisSoft is planning to have one more

development center in Bangalore. For these expansions, the company is investing

$2 million. The company also plans to increase its number of employees from the

present 100 to 400 by this year-end.