US-based leading provider of Enterprise Content Management Solutions, Interwoven Inc, on Tuesday announced the opening of its new research and development centre in Bangalore.
The new centre would serve as an R and D hub for product development, product feature development and enhancement, quality assurance and 24-hour technical support for Interwoven's customers worldwide.
James Murray, Vice-President, Asia-Pacific Operations, Interwoven, told reporters that 30 to 40 per cent of the company's global engineering team would be based in Bangalore in the next 12 to 18 months but jobs would not be cut in US.
Analysts are forecasting a 15 to 20 per cent compounded annual growth rate in the global ECM market, making it the fast growing segment in software, he said, adding, India represented a vast market opportunity to capitalise on it. A recent report by IDC, a leading industry analyst firm, estimated that the content management software market in Asia-Pacific, excluding Japan, currently stands at US$102 million and is expected to grow at a five-year compounded annual growth rate of 16.6 per cent, crossing the US$200 million mark by 2010.
According to the report, India is poised to post the highest growth rate within the region at 27.7 per cent. Dr Narsing Rao, Head of Interwoven Software Services India Pvt. Ltd, said the Bangalore centre presently had 15 to 20 per cent of its global technical staff and saw a 300 per cent growth in the last one year.
The Bangalore centre had 60 to 70 employees which would be more than doubled within a year, he said.