Prism expands operations in India

Prism Microsystems, a United States-headquartered provider of security information & event management (SIEM) technology, has announced plans to expand its presence in India with the opening of a campus in Bangalore.

With an investment of Rs 50 crore, the new campus will be operational in the next 12 months.

The campus will be located in the Rajajinagar Industrial Estate in the city, and will have a capacity to accommodate up to 290 employees, the company said in a statement.

The centre will also work for product development for security information & event management solution EventTracker, and will also provide back-office support. Prism has one office in the city with a staff strength of 55.

"Bangalore has evolved beyond data entry to software development, but today we consider it to be even more... An integral part of world economy," said A N Ananth, CEO of Prism Microsystems. The security information & event management industry is growing around 35 per cent year-on-year.

It is expected to be a $1 billion industry by 2010, according to reports from Gartner and IDC.