Electronics Production | October 26, 2006
Flextronics to invest $100 million in India
Flextronics Software Systems said it would invest $100 million in India over the next three years.
At a press conference Manoranjan Mohapatra, president and COO of the company said "We are planning to invest $100 million in India, including the research and development (R&D) costs here." Flextronics Software Systems also announced that it was changing its name to Aricent following the acquisition of 85 percent of its business by Kohlberg Kravis Roberts and Co. and Sequoia Capital, Silicon India reports. The transaction valued the entire business at about $900 million.