Magma to deepen India footprint

Magma Design Automation Inc on Monday unveiled its plans for expansion in India with the opening of an R&D facility in Bangalore.

By the end of this fiscal, the company, which makes semiconductor design software, will invest $8-10 million in India. Magma also plans to up its headcount in India to about 200 by the end of this fiscal, from the current 170.

The California-based company, which started its operation in India in March 2003 has R&D centres in Noida and Mumbai. It acquired the Mumbai-based Knight Technologies in November last year and said it was open to more acquisitions in India.

Globally, Magma's clients include Nokia and Intel. In India, it has clients like Texas Instruments and Broadcomm. At present, the company has about 30 customers in India.

"We are excited about our operations in India and China. Not only do these countries have a lot of talent, they also have a lot of customers. By the end of this fiscal about 20 per cent of our employees will be in India," company's CEO and chairman Rajeev Madhavan said.

"We expect a turnover of $175 million by the end of this fiscal. At present, we are the fourth largest player in this sector and this year we aim to be the third largest," he added.