Date:19/02/2005 URL: http://www.thehindubusinessline.com/2005/02/19/stories/2005021902160500.htm

Back Fusion Tech plans $2-m expansion

V. Rishi Kumar

Hyderabad , Feb.18

FUSION Technologies Inc, an Edison-based technology services provider, has lined up plans to expand its India development centres located in Hyderabad and Bangalore with investments of about $2 million.

The Chief Executive Officer, Mr Richard G. Napoli, on a maiden visit to India, told Business Line that the investment would be from internal accruals.

"We have now embarked on an expansion process to offer new technology services leveraging the established offshore advantage that blends well with onsite engineering teams," Mr Napoli said.

This year would see the company growing at about 30-40 per cent and this is likely to reflect in the total addition of human resources here too.

" Apart from expanding the India operations and complementing about six centres in the US, we are also in the process of evaluating the possibility of locating a centre in Europe to serve the growing market there," he explained.

"Internally, we are debating various options of expansion both organic and inorganic, and may even consider the possibility of an initial public offering . However, it is early to comment on the capital plans," he said.

"About 40 per cent of Fusion clients come from software companies and the rest are from banking and financial services and manufacturing sectors. Typically, we help technology companies handle the lifecycle of product development including quality testing and assurance and tech support," Mr Napoli said.