Avineon to expand operations

Avineon Inc, a US-based information technology company, which has its largest facility in Hyderabad, has lined up investments of over $5 million for expansion of its operations in 2007-08.

The company would be opening its centres in Visakhapatnam and Kakinada besides setting up one more centre in Hyderabad.

"We are also planning to increase our headcount by 60 per cent during the current year," Avineon president and chief executive officer, Karlu Rambhala, said.

At present, Avineon has an employee strength of 1,200, including 1,050 people working at its Hyderabad centre. The company intends to increase the headcount to 2,000 by 2007-08.

Rambhala said Avineon's revenues, which stood at $40 million in 2006-07, were increasing at about 40 per cent per annum.