Kshema, Ivega to set up shops in Frankfurt

BANGALORE: Kshema Technologies and Ivega Corporation, have decided to set up sales shops in Frankfurt, Germany, citing better infrastructure, lower cost of operations and expanding reach in the European market as favorable factors. Both the companies already have presence in Europe, with Kshema having a presence in England and Ivega operating in Sweden.

Having started its consulting services recently, Kshema, will be looking forward to address the IT solutions needs of the financial and manufacturing sectors in the European region. It will also be aggressively looking at leveraging the emerging Biotechnology market in Frankfurt. In the same breath, Ivega is also looking forward to expand its plan of setting up a sales office to a business continuity center in Frankfurt. The company already has a similar facility in San Francisco.

This announcement of setting up presence in Frankfurt comes in the wake of Frankfurt Economic Development GMBH (FEDC) promoting the city as Germany’s number one business location for Indian software companies. There are 35 Indian software companies already operating out of Frankfurt, including marquee names such as, Infosys, Wipro, TCS, Satyam and Cognizant Technology Solutions.

According to German Consulate General, statistics indicate more than one-third of Indian green card holders in Germany hail from South India. Approximately over 12,000 work permits have been issued to Indian IT and telecom professionals.

The FEDC had participated in the recently concluded BangaloreIT.com and received "an overwhelming response from various Indian IT companies, " said, FEDC, Executive Director, Sibylle Herforth. "There are atleast 10 more IT companies from India expressing desire to set up presence in Frankfurt ", he added.