Pitney Bowes Business Insight to invest Rs 500 Crore in India over the next three years

Software firm Pitney Bowes Business Insight is planning to invest an estimated Rs 500 Crore in India. The investment is aimed at reinforcing Pitney Bowes product development centre and sales and marketing team in the country. The investment will be undertaken over the coming three years, reported the Economic Times of India.

President John O' Hara, Pitney Bowes Business Insight, said the Indian market is of strategic importance for the firm. O’Hara said he anticipates that the investment over the next three years will be in the region of over Rs 500 crore. According to him, the firm has already invested around Rs 200 crore in India in 2007-2010 and the next phase of Rs 400 crore investments is in line with its planned expansion in India, reported the Times of India.

Pitney Bowes Business Insight is a software arm of postage and mailing solution provider Pitney Bowes. The company has plans to double headcount in the product development division in three years time. O’Hara said Pitney Bowes is now helping companies move from physical mailing system to digital mailing. In this movement, there are lots of efforts the firm has put in and simultaneously is looking at intelligent use of data that it come across, said O'Hara.

The Times of India said Pitney Bowes is looking to hire engineering talents in India from reputed institutes, namely Indian Institutes of Technology and other equivalent institutes. O’Hara said the firm is impressed with talents in the country and therefore has plans to put more people from India in its various businesses.

According to the Economic Times, Pitney Bowes expects to increase its headcount by 60 per cent in its sales division in the current fiscal year. The company has close to 530 people in India working for its product development and sales division, said O’Hara. Pitney Bowes is keen major opportunities in Unique Identity (UID) projects, said the report.

He further stated that the move will be a wealth generation project for India. Pitney Bowes registered a 70 per cent growth in revenue in last calendar year and expects to maintain the momentum. Its global operations generated around US$500 million in the firm’s 2010 calendar year earnings, totaling revenue of its parent company Pitney Bowes.

Pitney Bowes offers a broad array of software, hardware and services in more than 100 countries, serving 2 million customers.
28th March 2011