New Delhi: International investment group Wesley Clover Corporation On 11 December announced setting up of its operations in the country to increase its presence and to tap the existing market opportunities in the technology sector.
“Wesley’s associated companies are already working in India, and opening our office here will not only expand our operations but will also allow us to address the very significant market opportunities that exist here,” Wesley Clover Chairman Terry Matthew told reporters here.
A new company, Wesley Clover Solutions has been incorporated for the purpose and Anil Khosla has been appointed as its CEO and Managing Director, Matthew added.
“We will draw on the local, highly-skilled pool of engineers to create new IP based applications for businesses,” he said.
The company is also planning to acquire some software firm in the country, and a formal announcement would be made in this regard sometime next year.
“We have identified the companies and would be overtaking some of them. The takeover can be in different forms, from equities swapping to cash buy outs, Khosla said.
The group would also invest in research, development and support services to develop new, innovative applications for the portfolios of solutions from associated companies both in India and abroad, he added.
Wesley Clover’s operations in India will work closely with other business affiliates and partners to introduce Internet Protocol (IP) technologies.