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Purple Yogi denies closure rumours

Fakir Chand in Bangalore

Purple Yogi Inc, the US-based emerging software leader for organising a business's unstructured information, has denied rumours that it had closed down its Bangalore centre.

Reacting to reports appearing in a section of the media, the company said in a statement that it was, in fact, in the process of hiring lateral engineers to ramp up its R&D center in Bangalore.

Purple Yogi has two R&D centers, one in Bangalore and the other in California, US, that work on improving product design and features of Purple Yogi's Internet Discovery System.

According to company's vice-president Ramesh Subramonian, the current market potential and change in environment requires us to be more conservative in our plans.

"The India office will concentrate on product innovation and development only, for which we require high-calibre engineers who are interested in developing a leading edge product, that is attracting a lot of interest in a wide variety of enterprises in the US. Our focus will therefore be on hiring those professionals."

The Internet Discovery System is an intelligent tool that searches the Internet by concept and not just key words. The product then makes a dynamic connection between content and users, thereby delivering information relevant to user's needs.

The software can discover information in the form of documents from both internal and external sources, automatically organize the information into a hierarchy, and present the information in an easy-to-navigate set of folders.

Recently, the company had announced that it had signed up clients like Wall Street Journal, Financial Times, etc.

The start-up company was founded in 1999, and is funded by Softbank Venture Capital, Intel Capital, and At India. It is also a Red Herring 100 company.

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