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divine, inc (DVIN) Message Board

  • platinumconvert platinumconvert Feb 26, 2002 8:45 PM Flag

    divine investing more in INDIA

    FYI. The following was carried on a reuters news feed last week. I didn't see any mention of it in the US press. Thought others here might find of interest. This is where major head count reduction translates into better profitability. According to the article, the divine INDIA already "contributed to
    roughly 20 per cent of divine Inc's global technology and product development."

    18Feb2002 INDIA: divine to invest $4 m more in Hyderabad centre.

    HYDERABAD, Feb. 17
    THE wholly-owned subsidiary of the US-based Nasdaq-listed $1-billion divine
    Inc, - divine India Ltd - proposes to ramp up its software development
    operations in Hyderabad.
    divine Inc, promoted by global majors such as Microsoft, Dell Corporation,
    Computer Associates, Hewlett Packard and Compaq, currently operates in 30
    countries with a workforce of over 3,500 professionals.
    Having invested little over $10-million so far in its Indian operations,
    divine Inc has decided to pump in further funds to the tune of $4-million
    to set up a state-of-the-art software development centre at Hyderabad, the
    divine Inc Vice-President, International Operations & Development, Mr Ken
    Kinsella, said.
    "The size of India investments may further go up depending on the evolving
    opportunities in the market space of extended enterprise solutions in the
    country," he said.
    The company expects the technology services market in India to expand
    phenomenally to reach a size of $7-billion by 2007 from the current level
    of around $100-million. Addressing presspersons here on Saturday on the eve
    of launching a suite of products and services, Mr Kinsella said the
    existing software development centre at Hyderabad has contributed to
    roughly 20 per cent of divine Inc's global technology and product
    development.
    According to Mr Kinsella, the company expanded its operations significantly
    across the globe over the last 12 months and would continue to look to
    overseas markets for further growth and opportunities.
    The divine India Managing Director, Mr Rao Tummalapalli, said the company
    has identified three core areas of activities - professional services,
    software services and managed services.

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