The Bangalore, India-based company provides legacy data migration, design and support services for computer aided design (CAD) and computer aided analysis (CAA) systems for clients in the aeronautical and space technology sectors. In addition to its development center in Bangalore, Plexion has operations in Detroit, Seattle, London, Frankfurt, Toulouse and Singapore.
Plexion’s revenue has grown five-fold in the last two years, and it expects it to reach IRP 170m ($3.6m) in the year to March 2004. The company’s order book currently stands at about IRP 120m ($2.5m).
Indian software development and maintenance companies have been among the lucky few in the technology sector to attract interest from the investment community in the last 12 months. In September 2002, Mumbai-based Patni Computer Systems Ltd secured $100m in funding from venture capital group General Atlantic Partners LLC.
Source: Computerwire
