Netmagic to invest $12 million for virtual private cloud
The company, a part of Japan's NTT Group, is offering the newly-launched service from its data centres.
Data centre company Net Magic today said it is investing over USD 12 million in its virtual private cloud offering. "We have invested over USD 4 million already and would be investing another USD 8-10 million over the next couple of years," its spokesperson said.
"We continue to invest aggressively. Our investments will be focused on the area of expansion of grids to offer high-resource compute, geographical expansion and in R&D efforts," he added. It has also tied up with Microsoft and Cisco to launch the product called "SimpliVPC" in the country and already signed up clients like cement maker Lafarge. A senior executive said the company is seeing greater traction from the manufacturing and the information technology sectors for the offering and it expects to grow at a compounded annual growth rate of over 75 per cent over the next three years.
The company, a part of Japan's NTT Group, is offering the newly-launched service from its data centres in the financial capital and Bengaluru.