Information technology solutions company ICICI Infotech is planning to set up a research and development centre in Mumbai to supplement its Chennai operations.
The move is in keeping with the company's decision to increase revenues from its software products business. ICICI Infotech operates in software services and products businesses, but the products division only accounts for 20 per cent of its revenues.
"We want to bring both businesses to the same level. We are trying to push up our products division to put it at par with our services business. We are in the process of signing a deal with a multinational bank for implementing our Triton software," said Vaidyanathan Rajagopal, vice-president and head of global marketing at ICICI Infotech.
ICICI Infotech recently increased the staff strength of its R&D centre in Chennai from 50 to 230 and is recruiting more for its upcoming centre in Mumbai. It will move out a part of its operations on some products from Chennai to Mumbai and also undertake new product development at Mumbai.
The company is also launching two new software products in the new year. Orion II, an upgraded version of its flagship distribution software Orion, and Excalibur, a package product for small business that can't afford to invest in enterprise ERP and don't want to use a general solutions product.
The Excalibur will come in different versions to cater to the chemical, pharmaceutical and auto ancillary verticals and will be launched in February 2004.
ICICI Infotech, which acquired about nine smaller companies over the last two and half years, is now concentrating on consolidating its businesses across the world. It currently has a presence in the United States, London, Germany, Dubai, Singapore and Australia.
