Pune Firm First In Asia To Get Intel 64 Funding

The Intel 64 Fund, a quarter-billion-dollar equity investment initiative, has invested in Pune- based Persistent Systems, a company specialising in software for Internet and database servers, as well as directory server platforms.

This is the first Asian company to receive an investment from the Intel 64 fund.

Persistent Systems also develops and markets Internet infrastructure products globally.

The Intel 64 Fund's investment will help Persistent Systems to set up Konark IA 64 Centre for Intel's Itanium processor family. The center, first of its kind in Asia Pacific, will provide training and consultancy services to software companies, helping them migrate their products to Intel's new IA 64 processor.

 

It will also develop tools and products for multiple Itanium platforms. Itanium is Intel's 64-bit processor slated to be launched later this year.

The processor is expected to power high performance servers that will run business applications in the Internet economy.

According to Anand Deshp-ande, managing director, Persistent Systems Pvt Ltd, "With this fund, the centre can provide an excellent opportunity for software developers to work with the latest processors and technology. This will equip them with the necessary skills to stay on the cutting edge of technological developments in India."

The Intern 64 Fund invests in technology companies developing innovative enterprise solutions for Intel 64-based services and workstations.

The fund invests in companies developing tools and technologies for Internet, enterprises and workstation solutions. "Widespread availability of applications, support and trained professionals is critical to the success of the Itanium platforms and the growth of big business e-commerce in India.

Persistent Systems Pvt Ltd has extensive expertise in systems software for starting this type of IA 64 competency centre and we are confident that our investment will help expand their infrastructure for e-commerce," said Avtar Saini, director, South Asia Intel.

Intel worked closely with other investors to identify potential portfolio companies and to actively support their product development activities.

The Intel 64 Fund creates regular opportunities for high- level interaction between portfolio companies and fund investors.

The Intel 64 Fund is coordinated by Intel and is co-founded by Compaq, Dell, HP, NEC and SGI.

The other investors in the fund include Bank of America, Boeing, Circuit City, Enron, Ford Motor, General Electric, McKesson, HBOC, Morgan Stanley Dean Whitter, Reuters, Sabre, Smith-Kline Beecham, Sun America, Telmex and Sumitomo Corporation.