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September 28, 1998

US FIRMS FLOCK TO SET UP BASE IN INDIAÆS HYDERABAD

By CBR Staff Writer

Ten IT firms from the US are exploring possibilities to set base in the Indian city of Hyderabad, state capital of Andhra Pradesh. This plans are a result of Andhra Pradesh’s chief minister’s recent visit to the States. Intel Corp and Hewlett Packard have also expressed a desire to meet Chandra Babu Naidu when he returns to India. DII Group, the $1.5bn San Francisco based firm, plans to invest in Hyderabad based semi-conductor firms Quolcore Ltd and in VSLI Technologies. Oxbridge LLC will set up a 100 percent export oriented unit in Hyderabad. It will merge with Harrowgate Technologies India Ltd, investing $2m over the next five years. Invesnsys, RightWorks Inc, VisualSoft Magma Solutions, Chip Logic Inc, Interweave Technologies Corp, Key Solutions Inc and AG Industries will all start operations in Hyderabad. Meanwhile, Pheonix Technologies will acquire Sand Microsystems Inc’s Hyderabad setup for $27.5m, and IBM Corp has plans to set up an electronics institute in Andhra Pradesh.

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