IT solutions provider Zylog Systems Ltd inaugurated a 850-seater facility at the IT corridor in Chennai. The company has invested close to Rs 30 crore in the facility, which is spread over 1.1 acre with 85,000-sq ft built-up area.
Sudarshan Venkatraman, chairman and chief executive officer, Zylog, said, the company has about 600 employees at present and plans to recruit nearly 4,000 people in the next three years. Zylog is also constructing its third facility in Chennai, a 1,500-seater, at the Siruseri IT park, he added.
“The development centre is spread over two acres of land with 1.25-lakh-sq ft of built up space. The facility will be ready within the next 12 to 18 months,” he said.
The occasion also marked the launch of Zylog’s IDEA (Innovative Development of Enterprise Applications) Lab, a software research and development centre, at the new facility. The company also announced its new portfolio of solutions for the consumer electronics industry.
The solution is said to integrate the systems of all the stakeholders involved in manufacturing a consumer durable, under a unified platform. Global consumer durable manufacturers Toshiba and Hitachi have shown interest in the solution, said Ram Sesharathnam, managing director and chief operating officer, Zylog.
The company entered capital markets in August 2007 and raised Rs 126 crore. The issue proceeds were meant to be utilised for acquisitions (Rs 50 crore), infrastructure development (Rs 67 crore) and capital expenses.
The company spent Rs 23 crore from the proceeds on the new facility and is investing close to Rs 44 crore for its upcoming centre at Siruseri. Zylog acquired a UK-based insurance solutions provider and an Indian company for Rs 17 crore in 2007. It is targeting two companies in the Middle East to leverage on their banking products, Sudarshan said.