Prism Microsystems, a global leader in security information and event management (SIEM) technology, today announced plans to expand its presence in India with the opening of a state-of-the-art campus at the newly revitalized Rajajinagar Industrial Estate in Bangalore. The new campus will be a centre for product development for its SIEM solution, EventTracker, and also provide back-office, sales and marketing support to the company’s US headquarters to meet increased demand in Asia and Australia.
Fuelled by increasingly aggressive and indiscriminate cyber attacks as well as stringent compliance regulations, the SIEM market is expected to grow to over $1 billion globally by 2010, a growth rate of about 25-35% year-on-year, according to estimates by leading analyst firms. Currently experiencing unprecedented growth, EventTracker is well positioned to take advantage of this opportunity with its track record of successful deployments at over 650 global enterprises, its unique integration of SIEM and Change Management capabilities and its low acquisition and implementation cost.
“While a lot of our research, development and back office work has been carried out in India, we are now aggressively expanding operations following the tremendous success of EventTracker in the US market and the growing opportunity provided by India, China and the rest of the Asia-Pacific region” said A.N. Ananth, CEO of Prism Microsystems.
“With the expansion, we hope to leverage the deep pool of technical talent in Bangalore to build a workforce that will help us enhance our competitive edge and maintain our technical leadership. Our highly skilled and talented employees are our greatest asset and are active participants in the long-term development and vision of the EventTracker suite and the company as a whole” he added.
Prism Microsystems will be one of the first IT companies to move into the Rajajinagar industrial area, which is being revitalized as an IT park. The new campus will be developed with the latest infrastructure according to international standards. The company plans to aggressively recruit employees for this new facility to keep pace with a high-growth environment. Commenting on Prism’s expansion in Bangalore, M.N.
Vidyashanakar, IT Secretary of Karnataka said, “Prism Microsystems’ global leadership is a testament to Bangalore’s highly-talented workforce and its ability to develop world-class technologies that are on the cutting-edge of innovation. We are proud that despite its worldwide success, Prism maintains its Indian heritage and is committed to furthering the development of Bangalore. The Karnataka government is currently evaluating EventTracker for use as part of its e-governance strategy, a critical initiative of the state’s Millennium IT policy”