Adaptec to expand Indian operations; will invest $25 mn
Our Corporate Bureau
16 January 2004
Hyderabad: Adaptec Inc, a Nasdaq-listed storage solutions provider, recently announced that it would invest more than $25 million in its R&D operations based out of Hyderabad and Bangalore to expand its Indian operations and for recruitment of software professionals.
According to Mr Robert N. Stephens, president and chief executive officer, Adaptec, the global storage industry was going through a transition where newer technologies were changing the way storage applications were handled. He added that storage devices were now increasingly positioned as stand alone devices unlike earlier when these were part of the processing units.
Adaptec has strategic tie ups with large companies like Dell, IBM, Hewlett Packard and Intel and intended to expand its product profile leveraging the Indian R&D centres.
Mr. Ram Jayam, vice-president, Adaptec said, "While we will invest $25 million in India in the next four years, we are set to invest upwards of about $5-$6 million in the country in the next one year." He said, "India has become an R&D centre for Adaptec from where we are able to work much more closely with our OEM partners in countries like Singapore and Taiwan. We are eager to accelerate product development to meet the growing customer demand for our IP storage products. Indian operations will take on increasing importance in driving the expansion of the direct attached and external storage solutions."
The company plans to build an engineering laboratory and test facilities as a part of the company efforts to work 24-hour engineering operations and accelerate time to market, Mr Jayam said.
