FTI, TCG to invest $20 mn in 4 yrs

US-based enterprise software majors Financial Technologies International and TCG Software Services Inc would invest $20 million in India in the next four years.

"The investment will be in our newly launched Offshore Total Centre in suburban Andheri. We will be offering product development, maintenance and support services for our offshore clients," FTI president and chief operating officer Michael Meriton told reporters on Thursday.

"Our Andheri centre will be integrated to the development centres in the US and Austria, and also provide R&D support," he added. 

FTI is also planning to relocate about 8-10 of its employees from the US to India for the integration of the centres.

"We also plan to recruit 400 employees from India by September 2003, TCG Software Chief Executive Officer Bhanu Singh said.

Headquartered in the US, TCG Software Inc is a technology and IT firm, with focus on mobile solutions, e-business, telecom and data networking domains.