Opens R&D facility in Hyd.
Pegasystems Inc, a US-based provider of business process management (BPM) software, will make an incremental investment of around $200 million (approximately Rs 980 crore) in research and development and other operations in India over the next five years, said company’s founder and chief executive officer Alan Trefler.
The over $162-million Nasdaq-listed company on Tuesday opened its first captive R&D centre in India at Hyderabad with an outlay of $5 million (Rs 24.5 crore).
“The Hyderabad facility will work in tandem with Pegasystem’s R&D centre in Massachusetts in creating ideas, driving innovation and delivery of major product enhancements,” Trefler said.
The company, which has already contracted 200 engineers in Hyderabad, plans to hire 100 highly-skilled engineers from IITs and NITs for the facility in the next one year. It would increase its India headcount six-fold in five years.
“The BPM technology, market for which is projected to touch $12 billion in the next five years, is poised to hit an adoption stride in the near future, and we see the Hyderabad facility positioned to help us organisationally address the growing global demand for BPM solutions. We are now evaluating India as a market. However, our initial focus will be to tap its next-generation talent resources,” he said.
