CG-VAK to open SDC in Bangalore

DQW News Bureau

Coimbatore-based CG-VAK Software & Exports, providers of web-based solution and ERP package mainly focused on the overseas market, is planning to open an off-shore development center (ODC) in Bangalore, by mid-2001. This would be the second ODC for the company in India, apart from its prime base in the textile city. "We'll be investing Rs 1.5 crore in this facility and around 75 professionals to be recruited here," said G Suresh, Managing Director, CG-VAK Software & Exports Ltd.

The company is all set to raise funds through private placements route and however, the size and other details were not disclosed, by the official. "The funds would be utilized for expansion plans in India and abroad," he said.

In the overseas market, the company provides ERP solution mainly for the Middle East region and web-based solution & software service for the US market. "We have also customers in India in the banking sector and we target trading houses, government departments, service sectors and automobile industry etc with our solutions," said Suresh.

CG-VAK has decided to increase the workforce in its two US offices, New Jersey and California, where it has a marketing arm and onsite center. "Our Coimbatore center has obtained the prestigious ISO 9001 International Quality Certification recently and working towards achieving SEI CMM Level 5 status," claimed Suresh.

The parent company in India has registered a turnover of Rs 6.5 crore in the last fiscal, while the US subsidiary posted Rs 5.3 crore for the same period. It targets Rs 11 crore from the domestic operations and Rs 10 crore from the overseas market, by March 2001.