VMware to Invest $100 Million in India
BANGALORE, March 24, 2008 — VMware, Inc. (NYSE: VMW), the global leader in virtualization solutions from the desktop to the datacenter, today announced a multi-year initiative aimed at expanding its India-based research and development (R&D) operations. VMware already has a strong presence across India with offices in Bangalore, Pune, Chennai, Delhi, and Mumbai. The initiative was announced today by VMware president and CEO Diane Greene at a news conference in Bangalore.
The initiative includes:
- Investing U.S. $100 million (4 billion Indian Rupees) in India by 2010
- A new, state-of-the-art 82,000 square foot development center in Bangalore
- Doubling the company’s India-based engineering organization to more than 1,000 people in the next two years
“Great products are built by great people. India has both an excellent technical education infrastructure and outstanding people. We highly value our Indian citizen employees," said Greene. "India is also one of our fastest growing markets and where we have increasingly important system integrator partners. For these reasons, we are now substantively increasing our investment in India.”
VMware entered India in 2004. Today the company has more than 300 customers and more than 160 channel partners in the country. With offices in 5 cities, VMware employs nearly 700 people, including more than 500 developers, across India. It has established strong ties to local universities in India including IIT Bombay, IIT Delhi, IIT Madras, NIT Trichi, NIT Surathkal, Indian Institute of Science (IISc) and the RV College of Engineering.
The new Bangalore development center expands on existing R&D operations in Bangalore and Pune. The center supports new and ongoing research and development across the company’s entire portfolio of solutions for datacenter and desktop virtualization. The new 82,000 square foot development center is located in South Bangalore and includes a 4,000 square foot computer lab.
VMware (NYSE: VMW) is the global leader in virtualization solutions from the desktop to the datacenter. Customers of all sizes rely on VMware to reduce capital and operating expenses, ensure business continuity, strengthen security and go green. With 2007 revenues of $1.3 billion, more than 100,000 customers and more than 10,000 partners, VMware is one of the fastest growing public software companies. VMware is headquartered in Palo Alto, California and on the web at www.vmware.com.
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Statements made in this press release which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate, but are not limited, to projections of investment and growth in foreign countries. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in consumer or information technology spending; (iii) competitive factors, including but not limited to pricing pressures, industry consolidation, entry of new competitors into the virtualization market, and new product and marketing initiatives by our competitors; (iv) the ability to develop, and to transition to, new products, the uncertainty of customer acceptance of emerging technology, and rapid technological and market change; (v) changes to product development timelines; (vi) the ability to protect our proprietary technology; (vii) our ability to attract and retain highly qualified employees; (viii) risks related to operating in foreign countries, including exposure to local regulatory changes, social or political instability and security concerns, and (ix) fluctuating currency exchange rates. These forward looking statements are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other risks detailed in documents filed with the Securities and Exchange Commission, including the report on Form 10-K for the fiscal year ended December 31, 2007, which could cause actual results to vary from expectations. VMware disclaims any obligation to update any such forward-looking statements after the date of this release.