Financial Daily from THE HINDU group of publications
Thursday, Jun 20, 2002
Financial Daily from THE HINDU group of publications Thursday, Jun 20, 2002 |
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Info-Tech
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Software Tenet bags $4-m 3G order from European co Vishwanath Kulkarni
BANGALORE, June 19 THE Bangalore-based Tenet Technologies, a communication technology company, has signed a $4-million contract with a European telecom major for developing a part of the core component of the latter's 3G system. Confirming this Mr Rajendra K. Misra, CEO, Tenet Technologies said that as part of the three-year agreement, his company would be setting a separate overseas development centre (ODC) for the European company. ``We expect this ODC to start functioning by October this year and would initially have some 30 professionals, which would be doubled by next year. We expect to touch over 100 in the third year,'' Mr Misra added. Tenet would be developing certain components of the RNC (radio network controller), which is the heart of the 3G system, Mr Misra said adding this is the first time that such a kind of work is being outsourced to an Indian company. The company expects to be a part of the 3G system that is expected to be rolled out in Europe sometime in April next year. ``Once the system is deployed, we may provide some services support for a period of time,'' he added. The company, in April this year had set up an ODC for NEC at Bangalore with some 50 engineers for developing routing platforms for NEC's next generation networks. ``This is again a multi-million multi-year contract,'' Mr Misra said. Tenet opened its UK subsidiary this year and expects to invest close to $1 million. ``The investments will be made from internal accruals,'' he said. The company, which opened its Japanese subsidiary last year has invested close to $1 million there. The company clocked a turnover of Rs 10 crore last year and is expecting a 100 per cent growth this year.
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