13 March 2007
EMC Invests 100 Million USD in Russia
Software Giant Invests 100 Million USD in Russia
Sees Russian Business Grow 60% in 2006
EMC Corporation, the world leader in information infrastructure solutions, today unveiled plans to build a state-of-the-art software development center in St. Petersburg, Russia. EMC also announced plans to invest $100 million in Russia over the next four years, underscoring EMC's deepened commitment to the rapidly growing Russian marketplace.
Sanjay Mirchandani, Senior Vice President, Emerging Markets & International Development for EMC, said, "Russia is an important and rapidly growing market for EMC as businesses and government organizations here aggressively invest in new and innovative uses of information infrastructure technology. The country also has some of the world's most talented software engineers and mathematicians, and we look forward to attracting these individuals to EMC and incorporating their contributions into cutting-edge products being deployed by our customers around the world."
EMC's St. Petersburg-based software development center will provide support and ongoing development across the company's broad portfolio of market-leading software solutions. The center, which is part of EMC's planned $100 million investment, will be led by Igor Agamirzian, General Manager of EMC's Russian Software Development. Agamirzian recently joined EMC after spending 11 years with Microsoft (see today's related announcement).
Agamirzian said, "I am thrilled to lead EMC's innovation efforts in a city world-renowned for its rich engineering resources. The new center will enable us to use the city's knowledge base to continue to strengthen our innovation engine and augment our global R&D organization."
The new center is part of EMC's global research and development investment. Today EMC has software development centers in Belgium, China, India, Ireland, Israel, Russia, and the United States.
EMC had software license and maintenance revenues of $4.2 billion in 2006, ranking the company sixth among the world's largest enterprise software providers. It is the market leader in information management and storage software, virtual infrastructure, and identity management, and the world's fastest growing provider of content management software.
EMC entered the Russian market in 2000. Today EMC employs approximately 100 software development and customer-servicing professionals across operations in Moscow and St. Petersburg. The company expects to grow its Russian employee-base to more than 250 by year-end. In addition to the new software center, EMC's planned investment in Russia includes extending and localizing the level of service and support that the company provides to its local customers.
Luc Brunet, General Manager of EMC's Russian and CIS operations, said, "Russians have unique and pressing information needs. Organizations both large and small are looking for new ways to put their information to work and better leverage its value. Our planned investment will further improve how we service our customers here, while making an important contribution to Russia's information economy."
EMC Corporation is the world's leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information. Information about EMC's products and services can be found at http://www.emc.com/.
This release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays or reductions in information technology spending; (iii) risks associated with acquisitions and investments, including the challenges and costs of integration, restructuring and achieving anticipated synergies; (iv) competitive factors, including but not limited to pricing pressures and new product introductions; (v) the relative and varying rates of product price and component cost declines and the volume and mixture of product and services revenues; (vi) component and product quality and availability; (vii) the transition to new products, the uncertainty of customer acceptance of new product offerings and rapid technological and market change; (viii) insufficient, excess or obsolete inventory; (ix) war or acts of terrorism; (x) the ability to attract and retain highly qualified employees; (xi) fluctuating currency exchange rates; and (xii) other one-time events and other important factors disclosed previously and from time to time in EMC's filings with the U.S. Securities and Exchange Commission. EMC disclaims any obligation to update any such forward-looking statements after the date of this release.