-------------------------------------------------------------------------- | Goa - 2005 Santosh Trophy Champions | | | | Support Soccer Activities at the grassroots in our villages | | Vacationing in Goa this year-end - Carry and distribute Soccer Balls | -------------------------------------------------------------------------- ControlNet India (Goa), now a part of Persistent Systems
Goa, December 2005 ControlNet India, a 100% subsidiary of Campbell, CA-based ControlNet Inc. was recently bought over by Persistent Systems, a leading Outsourced Software Product Development company, for approximately US $2 Million (Rs. 9 crores). The takeover will enable ControlNet to bolster Persistent Systems foray into the high growth space of Embedded Systems and Application Specific Integrated Circuit (ASIC) Design. "Headquartered in Goa, ControlNet India specializes in Network Protocols, Security, Voice-Data Collaboration & Convergence with capabilities in ASIC Design, Software development, Embedded systems and Product Engineering. ControlNet has an experienced team of hundred plus engineers, who will now be part of Persistent's highly skilled team of 2,200 plus software professionals," a Press statement released here said. Prashant Raje, Director, ControlNet and Vice President, Corporate Planning, Persistent Systems said, ControlNet India boasts high credentials in the Networking software space." Persistent announced that it intends to leverage on this to broaden its software product development repertoire. Vis-a-vis, ControlNet gets an opportunity to harness its expertise in Persistent's high focus area such as Telecom. "ControlNet will also serve as Persistents Competency Center for Embedded systems and ASIC Design", added Mr. Raje Commenting on the takeover, Mr. P Sridhar, Managing Head, ControlNet India said, "Being a captive unit of ControlNet Inc. restricted the scope of our embedded systems and ASIC expertise. The Persistent angle presents us with abundant opportunities to explore the potential of these domains." Figures provided by the firms said embedded systems market, which is one of the key drivers of Indian R&D offshoring and is currently pegged at around US$ 25 billion globally, growing at a 16% compound annual growth rate (CAGR). A NASSCOM-Mckinsey study states that the domestic embedded systems market for India is geared to generate U.S. $9.5 billion and exports worth U.S. $ 10 billion by the year 2008. The chip design market is seen as a sunrise sector within the Indian R&D outsourcing domain and according to analysts it is estimated to grow into a US$ 808 million opportunity in India by the end of 2005, according to the partners in the new alliance. Sridhar added, "ControlNet brings with itself some unique advantages, foremost among these is its location in Goa, which is an emerging IT hub. Good infrastructure, skilled manpower and low attrition rate are making Goa an attractive IT location. ControlNet has the first mover advantage and will continue to leverage it." About Persistent Systems Persistent Systems (www.persistentsys.com) pioneered the offshore centric software product development model fifteen years ago, and has since established an impeccable delivery record with over 140 "satisfied customers" worldwide. Persistent says it is "one of the few companies" (in India) that focuses exclusively on Software Product Development and over the years has developed processes and capabilities to service customers ranging from Fortune 500 companies to companies that are in the start-up phase. Today, Persistent calls itself a recognized leader in Outsourced Product Development, offering the most comprehensive range of servicesfrom Concept and Development to Support and Maintenancewith a view to help its customers increase efficiency, shrink time to market, reduce costs and leverage cutting edge skills. Persistent says it has been ranked as the 11th fastest growing Indian company in the Technology Fast 500 Asia Pacific 2004 report of Deloitte and has been classified as an 'Inventor' by Forrester Research. About ControlNet Now, a wholly-owned subsidiary of Persistent Systems, ControlNet was established in 1998 as a technology development center providing product-engineering services in the networking, ASIC Design and Embedded Systems space. Says it has a definite edge in ASIC design, hardware design, software development and product engineering, ControlNet has over the years developed capabilities to translate this expertise into a comprehensive product development asset. ControlNet is a Center of Excellence offering technological solutions in the areas of Networking Software ASIC (Application Specific Integrated Circuit) design Embedded Systems With strategic focus on Performance, Accuracy, Cost-effectiveness and Timeliness, ControlNet India says it "offers end-to-end product development assistance for clients worldwide". Contacts for more information: Sagar Desai Persistent Systems Pvt Ltd. Tel: +91 20 25702354 Email: sagar_desai at persistent.co.in Naina Sabunani 20:20 MEDIA Ph no: 2660 1437/75/50/83 Mobile: 9892026313 Email: naina at 2020india.com
