StorageTek opens India subsidiary, to invest $10 m

The company would invest in development and support centers as well as

marketing activities for engineers

StorageTek, which until recently had a liaison office in India, has

established its fully owned subsidiary in India. Announ-cing this, Andy

Srinivasan the company's regional Director for APAC said that the com-pany

would set up two soft-ware development centers in Pune and Bangalore and invest

$10 million in the next two-three years. The company would also invest in a

mainte-nance and support center to provide second and third level support for

its engineers.

StorageTek's current emp-loyee strength stands at 25 and would be hiked to

80 by the year-end. "The develop-ment team will not work on application

software but on product development around firmware," said Srinivasan.

Besides expanding its team in India, the company also plans to extend its

footprint in the country. "We would like to increase our engagements with

customers and our partn-ers," said Vijay Pradhan, Coun-try Manager,

StorageTek India.

To this end, he said that the company would focus on major growth sectors

inclu-ding telecom, banking, finan-cial and technology verticals. Pradhan also

informed that StorageTek hopes to improve its current market share of 35 percent

in the automated tape library space to a market lead-ing position this year.

Besides, the company also expects to increase its revenues in the disc and

networking product range. Sales and support offices would be opened in Bangalore,

Mumbai, Delhi, Chennai and Hyderabad. To support its distributors better, the

company will open depots offering spares support in Bangalore to start with and

in other cities subsequently.

The $2.2 billion company currently leads the enterprise tape library market

with 62 percent share.

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