Intel To Invest $100m

The world's largest microprocessor maker Intel Corporation announced that it would invest $100 million this year to pick up equity in Indian infotech and Internet companies.

This is a 10-fold increase in Intel's venture capital investments in India. It invested $10 million last year. The company is also expecting a 55 per cent growth in its Indian revenues this year.

"Intel Capital will invest in about 30 Indian infotech companies in the hardware, software, services and application areas," Craig R Barrett, chief executive officer and president of Intel corporation, said here yesterday. Barrett is currently on a two-day visit to India.

 

At present, sales revenue from India contribute about 1 per cent to Intel's total worldwide revenues and about 4 per cent to its Asian revenues. The company is also expecting a significant upward movement in Indian sales and revenues contributions to its total revenues.

In addition, Intel is also open to acquisitions and joint ventures in India. "India offers an exiting opportunity to us," he said.

Barrett said the company would be looking at Indian companies that offer "exciting new technologies" in hardware, software, services and applications. "The fund has already invested in 15 companies over the last 18 months," Barrett said.