Veritas Software, the world's largest independent storage management software company, expects to double its turnover every year by targeting the internet and e-commerce sectors.
Veritas Software executive vice president, engineering, Fred van den Bosch, who was in Pune in mid-December 1999 to lay the foundation stone for a new development centre of Veritas Software India, at a 10 acre complex at Hinjewadi Infocity on the outskirts of Pune, said the internet and e-business provided a huge opportunity for Veritas.
"Companies have become more and more dependent on computers for storage. Soon, almost anything will be stored on the internet. The rapid growth of internet and e-business will require the setting up of huge storage capacities and infrastructure. This will serve as a vast opportunity for Veritas to grow and double each year," said Bosch. "New applications coming in every day also mean an explosion of storage capacities world-wide, making storage management the most rapidly growing opportunity, growing at the rate of 100 per cent."
Veritas Software offers a broad spectrum of storage management solutions offering redundancy capabilities, quick and reliable access, back-up support, disaster management, through its suite of products including foundation storage, data protection, back-up and clustering products.
Veritas's application storage management integrates with over 60 of the world's leading servers and operating systems, and operates on all Unix and Windows platforms. "We will be implementing most of our products on Linux platform too," said Bosch. Veritas has technology partnering relationships with leading computer systems and storage manufacturers including Microsoft, Compaq, Dell, Hewlett-Packard, StorageTek and Sun Microsystems.
The first phase of the new development complex at Pune is to be put up with an investment of $450 million, and will house 1200 employees, up from current levels of 200. "We plan to grow as aggressively as we can. The new campus will support our growth over the next couple of years," said Bosch.
The Indian operations of Veritas at the Pune development centre carries out core development activity and accounts for 25 per cent of Veritas's 900-strong engineering capability. With projected Rs 21 crore revenues for 1999-2000, it expects to notch a growth rate of 50 per cent over the coming years.
Worldwide too, the company plans to invest heavily in research and development, and proposes to grow at the rate of over 50 per cent. Headquartered at Mountain View, California, Veritas employs 2,300 professionals in 17 countries. "Veritas would be spending 2.5 billion dollars on research and development over the next five years," Bosch said. The company expects to reach $650 million at the close of 1999, which would translate into a 67 per cent growth. This would include revenues from its recent acquisition of Network Storage Management Group from Seagate Software, said Bosch.
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