Brocade set to invest $300 m in next 5 years.

Brocade, the Nasdaq-listed networking solutions company, is set to invest $300 million (about Rs. 1,860 crore) in India over the next five years as it intends to develop and test some of its innovative products here.

In line with this strategy, the US-headquartered technology company has opened its new development centre in Bengaluru, it said in a press statement.

The centre will enable Brocade India to showcase proofs-of-concept and pilot projects for customers and partners in addition to making contributions to development of fabric-based and software networking solutions. The centre will also work closely with partners across India to achieve greater penetration in verticals such as media, banking and finance, education, public sector and others, the statement added.

'Brocade is taking focused and purposeful steps in our global investment strategy with acquisitions that increase our depth in software networking, and strengthen our footprint and engineering capability in markets where we see growth potential,' Chief Executive Officer Lloyd Carney said.

'We believe India will be an early adopter of New Internet Protocol (IP) technologies, and we are very excited to be in this next phase of Brocade's growth in India,' he added. Brocade makes hardware and software for connecting corporate storage systems and servers. Its products are used in storage area networks, which pool storage resources in big companies for easier management and higher utilisation.


HBL