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McAfee to beef up India headcount, eyes over 40% growth

McAfee to beef up India headcount, eyes over 40% growth
PTI
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First Published: Thu, Mar 05 2009. 04 45 PM IST
Updated: Thu, Mar 05 2009. 04 45 PM IST
Mumbai: Aiming to expand its market share and grow its business in India by 40-50% in the next two years, McAfee Inc plans to beef up its workforce by adding 60-70 personnel this year in the country.
“We enjoy a 30% market share in India and are targeting a 40-50% growth over the next two-years. We plan to hire 60-70 personnel here this year which will help us consolidate our operations here,” McAfee President Asia Pacific Steve Redman said here.
McAfee Inc is an US-based Internet security provider whose India operations grew over 40% last year against a global growth of 20%.
“India constitutes the third-largest market for us and is also the highest growth market worth $140 million presently,” Redman said.
With a workforce of nearly 1,200 in the country, the NYSE-listed company said its attrition levels have slipped from 42% a year back to just 10% now.
On the current economic slowdown affecting McAfee, Redman said that it was not immune to it, and that it “could have grown even more. But, we are signing new deals and shipments with Acer, Lenovo and Samsung...”
While he declined to comment on the company’s domestic revenue target, it is understood that McAfee is vying for an over $200 million in revenue from India in the next 1-2 years.
A company official informed that last year McAfee clocked revenues worth $2 billion globally, with Indian income contributing in excess of $20 million.
“For us, Brazil, Russia, India and China are the fastest-growing markets presently,” the official said.
Late last year, McAfee had acquired Reconnex (a data loss prevention firm) for $46 million and Nasdaq-listed Secure Computing for $465 million.
Both companies have operations in India.
“McAfee makes at least 3-4 acquisitions in a year,” the official said.
He said the company’s competitors vary across different product offerings ranging from Symantec in the mid-market-to-enterprise segment, Websense in the DLP (data loss prevention) segment and Nessus in the risk and compliance segment.
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First Published: Thu, Mar 05 2009. 04 45 PM IST