Radiant Info to invest $10 mn in India

To increase its presence in India, Radiant Infosystems, a fully-owned subsidiary of US-based Radiant Systems Inc, will invest $10 million in the country.

"The investment will go into people and infrastructure," Radiant Infosystems president and chief executive officer Venu Myneni told PTI in Hyderabad.

Radiant will add another 1,800 to its current headcount of 300 in Bangalore and Hyderabad.

The company has enough internal resources for this level of investment, he said adding the option of going for public issue was also being examined. "We are weighing it. We might go public by the end of 2006," he said.

Currently the Indian operations of the company with two centres in Bangalore and Hyderabad account for 10-15 per cent of Radiant's global operations.

"In the next 20 months, our Indian operations will account for over 35-40 per cent of the global operations of Radiant," Myneni said.

"We will focus more on developing application for pharma industry. Currently, Radiant is developing applications for pharma major Aventis and Novaritis," he said.

The company is developing applications for e-governance, financial services and telecom sectors among others. It has developed a smart card for Viskha Gramina Bank and Krishna Gramina Bank recently, he said.

It is also involved in Rajiv Internet Village, a project of the Andhra Pradesh government to set up 5,500 kiosks connecting two-thirds of rural areas in the state.