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Follow UsS Gopikrishna
Chennai
Chennai-based iNautix Technologies India, the wholly owned Indian subsidiary of the US-based A Credit Suisse First Boston Company, a leading global financial services provider, is moving to its new major software development facility at Tidel, in Chennai, in mid-January 2001. The company has acquired 118,000 sq ft of space, the biggest occupant at the software park, for setting up a large development center and establishing a data center, over an area 5,000 sq ft. "The Chennai center will be similar to the two development centers in the US, in terms of skill, technology and work environment," said Suresh Chakravarthi, Director, iNautix Technologies India Pvt Ltd.
| Inaugurated by Prime Minister AB Vajpayee on 4 July, the 1 million sq ft Tidel Park is slowly emerging as the nucleus of the software development activities in Chennai. The Old Mahabalipuram road on which Tidel Park is situated is emerging as India's first IT corridor with Wipro, Infosys, Pentamedia and many others setting up their own SDCs on either side of the 50-km stretch to the world heritage center, Mahabalipuram, 50 km south of Chennai. In all, 36 global software majors including Computer Associates, Sify, Ford Solutions, HCL Tech, Pentasoft, will have operations at Tidel Park. This report is the first in a series on the occupants of the prestigious IT park. |
The company plans to employ 750 software professionals in its new development center, being developed in phases, by 2001. "In Phase I, we would have a 340-seat development facility at Tidel and the whole project will be completed before end of 2001," he said.Â
Being a technology company, iNautix focuses on developing financial products, ASP solution and providing service for its customers across the world. The company has major presence in the US, apart from Europe and Asia. "We build products based on the projects and service provided to the customers and this solutions is offered on the ASP model for the clients.
This helps us to develop a group of reusable components which reduces the cost spent on solution by the customers," he said.
The company provides applications for stock market and banking & financial institutions.
The Indian subsidiary is established as part of global expansion program of the company, and Chennai center is the third largest facility for the company across the globe. "This center will work as an extension of the US facility and projects would be allotted based on the resource availability. However, every center has all the capabilities to undertake projects on the whole and Chennai unit has 24X7X365 connectivity with the US offices for real-time applications," said Chakravarthi. "We'll have a significant portion allotted for in-house training division here to take care of continuous training and skill updation for the employees."
The company has small development groups sitting in UK and Honk Kong, and recently opened an office in Japan. "In India, we may set-up a couple of more development centers in future, but the places and schedule of the program has not yet been decided," he said.
Last fiscal, the company has registered a revenue of $ 50 million and targets a turnover of $ 90 million by December, 2000. The next fiscal projection stands at $ 160 million.