Vizag IT News!

Sir · Posted: Thu Jun 11, 2009 12:58 pm Post subject: Vizag ahead!

NetEnrich to set up 2nd centre in Andhra

Hyderabad-based NetEnrich, which provides software as a service (SaaS) to overseas clients, would set up its second centre in Andhra Pradesh during this financial year at an investment of about $10 million (Rs 50 crore).

Speaking to Business Standard, chief technology officer Varma Kunaparaju said they were looking at Visakhapatnam and Vijayawada as possible locations for the second unit. NetEnrich currently has a unit in Hyderabad employing about 170 professionals.

The expansion was needed to cater to the increasing number of clients abroad, he said, adding the company was gearing up to meet the technology demand from small and medium business units abroad.

The 35,000-sft premises, to be funded from internal resources, would accommodate about 1,000 people in three shifts. The company would add at least 400 people during this financial year, and upon reaching full capacity would need a recurring expenditure of about $ 25 million (Rs 125 crore) to meet the people costs.

“The revenues from the clients would be sufficient for meeting the recurring expenditure,” he said adding the company had over the last five years invested about $9 million (Rs 45 crore) in developing various technologies including its patented remote infrastructure management (RIM) technology.

Apart from Hyderabad, the company has delivery centres in the US and Japan. It entered into a business agreement with Ingram Micro Inc to deliver RIM services to value-added resellers and allow them to create their own managed services.
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Sir

RealityRider · Posted: Tue Jun 16, 2009 8:02 am Post subject: Satyam to log out of Vizag?

Satyam to log out of Vizag?

Hyderabad: Is Satyam wrapping up its operations in Visakhapatnam? Considering that the names of all associates stationed at Vizag figure in the list of those removed from “regular work” under the Virtual Pool Policy (VPP) of the company, this does seem like a possibility. According to sources in the scam-hit IT firm, all the 750-odd employees posted in the port city have been sent out emails from the company management informing them about this arrangement.

“The VPP has hit Vizag the hardest,” said an associate based out of Hyderabad adding that after Vizag it is they at Hyderabad who have suffered the most. “While it is fairly clear that the company is planning to shut shop in the port city, Satyam is definitely scaling down its operations in Hyderabad in a big way. This explains why around 30 per cent of the existing work force here has been moved to the virtual pool,” the associate added.

Satyam had launched its operations in Vizag in 2007 and has not been in the pink of it’s health in the city ever since. “There was always been a dearth of projects in Vizag. So much so that when the company was doing well elsewhere there was talk of shifting some projects from other centres to Vizag,” said a senior employee of the company. “However, before that could happen, this whole fraud surfaced and operations almost came to a standstill in the port city. Perhaps that explains this latest move,” the associate added.

Interestingly, the offices of Satyam in Pune, that also houses the top brass of the Microsoft unit of the company, have been spared with minimum associates from these centres moved to the virtual pool.

source : http://www.greatandhra.com/ganews/viewnews.php?id=14236&cat=10&scat=25

Sir · Posted: Wed Jun 17, 2009 12:21 pm Post subject: Vizag ahead!

Hyderabad-based SoftPro acquires S African Cura Risk Management Software news

Soon to Start another centre in Vizag.

http://www.softprosys.com/

Hyderabad-based SoftPro Systems, a business solutions provider in the governance, risk and compliance (GRC) sector, has acquired 100-per cent stake in South African specialist software provider Cura Risk Management Software in a $19-million all-cash deal.

Cura, is an $8-million GRC software solutions provider.

SoftPro expects the deal to yield a six-fold growth to Rs60 crore this financial year. The company is targeting $200 million in revenues in the next five years.

As part of the deal, SoftPro will pay an upfront $16 million and the remaining amount over the next three years based on Cura's performance. The acquisition is likely to be fialised by the end of this month.

''The acquisition is our first step towards the turnaround of our fledgling company. We hope to become a $200-million company in the next five years,'' said G Bala Reddy, chairman and managing director, SoftPro.

GRC processes help in achieving high levels of business performance through reduced risks and uncertainty and through increased corporate governance.

Cura operates offices in South Africa, the US, UK, and Australia with exclusive distributors in 16 countries in Asia and South America. It holds a 75-per cent market share in South Africa and has a leadership position in Australia.

The GRC segment comprises software, consulting and related services. According to Forrester Research, the segment is expected to grow from the current $2.6 billion to over $24 billion in the next five years with an annual growth rate of over 24 per cent.

Softpro's product suite comprises application software, technology integration, ERP, business intelligence, enterprise portals and e-learning packages. It runs a development centre in Hyderabad while another centre is coming up in Visakhapatnam.
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Sir

RealityRider

Mahindra Satyam to seek re-allotment of land

Santosh Patnaik

Plan to establish IT Special Economic Zone
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The allotment at Kapuluppada was cancelled after unearthing of the Satyam scam

Thanks to recession, allottees in IT SEZ in Rushikonda have not started operations
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VISAKHAPATNAM: After change in its brand identity, the new management of Satyam is contemplating seeking re-allotment of land in the city for establishing an IT Special Economic Zone.

Allotment of the land in question, admeasuring 50 acres, at Kapuluppada village on the city outskirts, which falls in Bheemunipatnam mandal, was cancelled early this year after unearthing of the Satyam scam.

Earlier agreement

Initially, a MoU for allotment of 50 acres at Thotlakonda near Kapuluppada was signed between the Satyam management and the State government on May 10, 2005, at a land cost of Rs.10 lakh per acre as per IT SEZ policy. The erstwhile Satyam management had paid Rs.5.01 crore to the AP Industrial Infrastructure Corporation, the nodal agency, following which an agreement of sale was executed on April 10, 2007.

Earlier, the stone for the project was laid by Chief Minister Y.S. Rajasekhara Reddy. The allotment in Thotlakonda was cancelled following objections by the Ministry of Defence as the Navy had plans to set up a wireless experimental unit in the area. Later, vide GO Ms. No. 314, an alternative land was alienated to the APIIC in Kapuluppada village for allotment to Satyam on December 4, 2008.

The fresh allotment, which became public after breaking out of sensational disclosure by erstwhile Satyam promoter Ramalinga Raju, was dropped following criticism by opposition parties and social action groups. As Mahindra group took over Satyam Computers Limited, the new management wanted to seek re-allotment of land at a concessional rate, sources said.

Basic value

As per a letter written to the government by district Collector in August last year, the basic value of the land in question was Rs.60 lakh to Rs. 80 lakh, and the auction price fetched to VUDA in the area was between Rs. 4 crore and Rs.4.55 crore per acre.

source : http://www.hindu.com/2009/07/02/stories/2009070253990500.htm

Hindu - 02/07/09 - vizag news

An IT SEZ has been developed at Rushikonda near Kapuluppada on two hills in an area of 100 acres.