iNautix to open development center in Chennai

CHENNAI: iNautix Technologies, a 100 per cent subsidiary of the online

brokerage arm of Credit Suisse First Boston, USA, CSFBdirect, will open

118,000-sq. ft development center at Tidel Park, making iNautix the largest

occupant to house nearly 750 professionals.

INautix Technologies, headquartered in New Jersey, USA, focuses on developing

and hosting secure global e-commerce engines that can interface with many

technologies within a variety of Internet and wireless delivery platforms and

PDAs, palm top devices, screen phones, and touch- tone telephones.

The Chennai facility, which will house iNautix' fifth Data Center, is its

largest development center outside the US.

"With products such as MarketSpeed, the fastest available browser for

the financial market, iNautix hopes to continue its steady growth in the coming

years. This apart India being a major contributing factor in its growth, we now

plan to invest nearly $12 million this year on facilities and data center,"

said iNautix president and CEO Suresh Kumar.

"Demand of the iNautix range of products from other brokerages are high.

And the business model of online brokerages is a proven one unlike the model of

dotcoms. Brokerages are going to continue investing on online and stay in the

game," said CSFBdirect CEO Blake Darcy.