VeriSign opens research center in India
Company will spend $6 million this year in India, says the country is important because of its fast-growing domestic telecom market.
The company, which has about 600 R&D staff in the United States and 250 in Europe through an acquisition, is the latest among high-tech firms opening research centers in India's technology capital to boost growth.
VeriSign, which plans to invest $6.0 million this year in
"Our goal was not cost-cutting or reducing head count in the U.S. but to manage product development and growth," said Manoj Srivastava, vice president of global product engineering.
He said VeriSign's head count will grow both in the United States and India but that the Indian unit will grow faster.
The company's Bangalore research center already has 40 people and the number will grow to between 100 and 125 by the end of this year, company executives told a news conference.
They said these would be in addition to 200 people the company has in India through two acquisitions, and more than 100 people indirectly working in outsourcing partner companies.
Officials said VeriSign would continue its relationship with Tata Consultancy Services and Infosys Technologies, India's top two software service vendors, who would do specific projects while its own center would focus on product development or management software.