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Red Hat takes control of its Indian venture
And aims for more than 100 per cent growth per year...

By Reuters

Published: Friday 09 December 2005

Software and services company Red Hat said on Wednesday it has gained full control of its Indian venture after buying out the remaining 40 per cent from its local partner for an undisclosed sum.

The company, a leader in versions of Linux software, aims to invest $20m in India over the next few years as it expands in one of the fastest growing markets for software, SFO Charlie Peters told a news conference.

He said: "The acquisition and the planned investment will help Red Hat accelerate the growth."

Red Hat's business in India has grown 100 per cent annually in the past five years and it aims to focus on local state governments and educational institutions to expand operations, Peters said. He did not give revenue figures.

Javed Tapia, president for the Indian subcontinent and the local partner who sold his 40 per cent holding to Red Hat, said: "We have succeeded in states like Maharashtra and West Bengal and our engagement with the government is set to go up."

The company also aims to triple its present 140-strong staff in the next two to three years, Peters said.