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OpenText Expands in India: Growing Customer Base, Expanded R&D Capacity
Company Doubles Capacity in its Hyderabad Research and Development Center and Opens New Office in Mumbai
By: PR Newswire
Nov. 4, 2012 11:25 PM
WATERLOO, Ontario, Nov. 5, 2012 /PRNewswire/ -- OpenText™ (NASDAQ: OTEX, TSX: OTC), leading provider of Enterprise Information Management (EIM) solutions, today announced the expansion of its Hyderabad research and development center and the opening of its new Mumbai office to address the company's significant market opportunity in the emerging EIM market and to support its rapidly growing customer base in India, which currently exceeds 300.
More than 300 employees are currently based in OpenText's 67,000 square foot Hyderabad office. The company is adding more space as it prepares to double the size of its workforce in India over the next few years. The expansion, which will see OpenText occupy a total of nearly 100,000 square feet in Hyderabad, will allow the company to accelerate its EIM strategy and leadership.
"With India being a major research and technology hub, the growth of OpenText Hyderabad and the opening of a new Mumbai sales office represent a natural progression and important investment for us," said Mark J. Barrenechea, President and CEO of OpenText. "As a technology leader and pioneer, we see great opportunity in India and look forward to selecting the talented individuals who will drive OpenText's EIM vision there and around the globe."
The Hyderabad expansion is supported and aligned with the initiatives of the Indian government as the office is located in a Special Economic Zone (SEZ) that is oriented towards export and foreign direct investment in the country. These regions designated by the government are regulated by unique laws that encourage employment and economic growth through several channels such as regulatory and taxation breaks.
In conjunction with the Hyderabad expansion, OpenText is opening a commercial hub in Mumbai to address customer demand for OpenText's offerings and to support its technology and reseller partners including Tata Consulting Services, WIPRO and SAP in developing the EIM market in India. The office in Mumbai is scheduled to open this month and will become the home base for a country manager and his team of dedicated account development managers and partner support roles.
Major areas of concentration at OpenText Hyderabad include research, product development and global services.
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Copyright © 2012 by Open Text Corporation. OPENTEXT is a registered trademark of Open Text Corporation in the United States of America, Canada, the European Union and/or other countries. Other trademarks, registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text Corporation or other respective owners.
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