Computer Associates to Invest Over $100 Million in India.NEW DELHI New Delhi (dĕl`ē), city (1991 pop. 294,149), capital of India and of Delhi state, N central India, on the right bank of the Yamuna River. , India and ISLANDIA, N.Y.--(BUSINESS WIRE)--Dec. 3, 1997-- Announces Plans To Set Up Its First Asian Technology Center And Fund Software Start-Ups In India Computer Associates International, Inc. (CA) today announced that it will establish its first Asian technology center and fund numerous software start-ups in India. Through an investment of $100 million over the next five years, CA will help the Indian software industry become a key player in the global packaged software See software package. market. The extensive program calls for CA to establish a major technology research and development center In India. Modeled after its state-of-the-art centers in the U.S. and Europe, the Indian center will create products that extend CA's Unicenter TNG TNG Training TNG The Next Generation TNG Tongue TNG The Newspaper Guild (Union) TNG Transitional National Government TNG Telescopio Nazionale Galileo (national facility of the Italian astronomical community) , Jasmine and OpenIngres product families. The $100 million investment also includes funding of start-ups that build value-added products to supplement CA's software solutions. "India's wealth of world-class software talent and entrepreneurial spirit, combined with our unique experience and investments, will put India on the packaged software map," said Mr. Sanjay Kumar For the Indian soldier, see . Sanjay Kumar (born Colombo, Sri Lanka, 1962) was the Chairman & CEO of Computer Associates International (now CA, Inc.), until April 2004. He emigrated with his family to the US in 1976 to escape civil unrest in his native Sri Lanka. , President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Computer Associates. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mr. Kumar, CA is committed to developing careers for Indian technical professionals who stay in India, while adding value to clients using CA products around the world. "Our intention is to provide people the opportunities and rewards in India, while they create sophisticated products for our world-wide clients," said Mr. Kumar. Additionally, CA will provide a comprehensive program to help the next generation of software start-ups in India to grow into self-sufficient, contributing members of the high-tech business community. As part of the program, CA will provide seed funding as well as centralized business and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , common facilities, management development, and provisions for assistance in technology and marketing assessment. CA also announced that it will open new offices in Calcutta, Bangalore, and Chennai (Madras) to complement its existing offices in Mumbai (Bombay) and New Delhi. The undertaking will enhance the company's ability to deliver and support its entire line of over 500 industry-leading business software products, including Unicenter TNG, OpenIngres and Jasmine. In addition to CA's financial investment, company executives committed to conducting business as a locally-managed company sensitive to Indian business culture. "CA-India is an Indian company, not just an American company doing business in India," said Ian Hughes, general manager, CA-India. "In order to succeed, we will operate as an Indian company with all the resources and advantages afforded by an American FORTUNE 500 company." As President and COO of CA, Mr. Kumar is one of the youngest presidents of a FORTUNE 500 company. During the 35-year-old executive's tenure as president, CA has grown to become the world's leading business software company, with fiscal 1997 revenues exceeding $4 billion and a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. approaching $30 billion. Computer Associates International, Inc. (NYSE NYSE See: New York Stock Exchange : CA), with headquarters in Islandia, N.Y., is the world leader in mission-critical business software. The company develops, licenses and supports more than 500 integrated products that include enterprise computing and information management, application development, manufacturing and financial applications. CA has over 10,000 people in 160 offices in 40 countries and had revenue of $4 billion in fiscal year 1997. CA can be reached by visiting http://www.cai.com on the World Wide Web, emailing info@cai.com or calling 1-516-342-5224. -0- All referenced product names are trademarks of their respective companies. CONTACT: Durjay Puri, EBA EBA Eisenbahn-Bundesamt (German) EBA Euro Banking Association EBA Emergency Brake Assistance EBA Enterprise Bargaining Agreement (Australia) EBA Elite Beat Agents (video game) , +011 6214469 or 2020@pobox.com Bob Gordon, CA, (516) 342-2391 or bobg@cai.com |
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