iSoft to add 500 in Chennai

CHENNAI: UK-based iSoft Group, provider of application systems for hospitals and healthcare organizations, is going to invest $ 100 million for the next three years in its product development center in Chennai. In addition, it will be raising its headcount from 300 to 800.

According to the company, the $100 million investment will go into new technology, innovative products and in developing its infrastructure. The current capacity, which can accommodate only 300 professionals, iSoft is looking at setting up another center in Chennai. "India has been critical to iSoft 's global operations, so we are committed in investing in Chennai," said the recently appointed CEO of iSoft Tim Whiston. The company's first release of next generation product "LORENZO" using .Net technology is currently in the beta stage.

iSoft, which began as an in-house software unit of KPMG, is listed on the London Stock Exchange (LSE) and is the fourth largest software and services company listed in LSE. The company has operations in UK, Ireland, Germany, Singapore, Australia, New Zealand and India. "Unlike many global players who leverage India as a low-cost delivery base, our center will undertake high-end product development," said CEO of iSoft R&D Pvt Ltd (Indian operations of iSoft Group Plc) Ravan Boddu.

For the financial year, iSoft Group has projected revenue of $ 300 million and an operating profit of $74 million.

CyberMedia News Service