Date:21/04/2005 URL: http://www.thehindubusinessline.com/2005/04/21/stories/2005042101170500.htm

Back Sanovi plans to invest $10 m to expand R&D

Our Bureau

Bangalore , April 20

SANOVI Technologies Corporation, a business continuity and disaster recovery solutions company, on Wednesday announced that it would be investing $10 million in three years to expand its research and development centre in Bangalore.

It also plans to increase its headcount from the current level of 35 to 100 by this year end. It company will continue to leverage the Indian talent pool to deliver world-class enterprise software to the global market.

The expansion programme coincides with its projection of capturing about eight per cent of the $4.1-billion market for its enterprise manager software, Panaces, said Mr Srinivas Pothapragada, co-founder and CEO. Panaces enables customers to maintain and manage application continuity.

Sanovi was bullish on Indian market for its product and Mr Srinivas said of the estimated $500 million worth of APAC market, Sanovi hopes to garner $50 million in the next two-three years.The company, which was started in 2002, would be breaking even by the current financial year, he said.