INDIA, New Delhi, Oct. 17, 2018 (GLOBE NEWSWIRE) -- VMware (NYSE: VMW), a leading innovator in enterprise software, today announced that it planned to invest US$2 billion in VMware-specific efforts in India between now and 2023 as part of the company’s overall global investment strategy.
VMware CEO Pat Gelsinger announced the investment plans at press conference in New Delhi today. This investment will enable the company to expand to new offices in Bangalore and Pune as well as increase headcount and capital expenditure for both R&D and to support its growing sales operations in India.
“India is a key cornerstone of our overall global investment strategy, providing outstanding engineering talent for our global R&D operations that are helping to drive innovation across our entire product portfolio,” commented Pat Gelsinger, CEO, VMware. “VMware remains committed to providing innovative technologies that help drive our customers’ digital transformation.”
Gelsinger added: “I will be honored to meet with Prime Minister Modi later today. We are grateful for the current environment in India where VMware can continue to grow, invest, and create jobs and opportunities for India’s IT workers of today and tomorrow.”
Arun Parameswaran, Vice President & Managing Director, VMware India added that the company’s initiatives in the country also support Indian Government policies, such as Digital India.
“We intend for these efforts to not only help drive innovation for VMware’s customers globally, but to help drive innovation across India itself,” said Parameswaran. “India has a deep pool of talented, creative people that can help fuel our innovation now and in the future.”
Over the past 13 years, VMware’s operations across R&D, sales and marketing as well as business support services have expanded in India, with more than 5,000 employees today supporting its business locally and globally. VMware’s primary India sites include Bangalore, Pune and Chennai.
Women Return to Work Program, Project Taara Launch
In related news, VMware, in partnership with Women Who Code, India, has committed to train 15,000 women over the next two years in diverse technology areas, providing a platform for more women with previous experience in IT to upskill themselves in digital technologies. This new program, called VMware VMinclusion Taara: Women Return to Work program, is expected to launch on December 1.
Several organizations like Bharti Airtel and Cognizant plan to support the program and are open to a consideration process for relevant IT openings within their organisations for women certified in VMware solutions as a result of Project Taara.
In India’s IT sector, nearly 50 percent of women move out of core engineering roles after eight years, with the biggest drop-off after the first five years as they often take a break to start families and do not return to the workforce1. Increasing women’s labour force participation is therefore essential for the growth of India’s IT industry, which is expected to drive digital transformation and add an estimated US$154 billion to the country’s GDP by 20212.
VMware, a founding partner with Women Who Code, started a new Bangalore chapter two years ago. This chapter now has 1,700 members, elevating women’s technical leadership via meetup events for networking, learning and communication. VMware also supports the Women Who Code India CONNECT conference, fostering the technical community and boosting technology education among women in India.
For the past four years VMware has also participated in and sponsored the Grace Hopper Conference India, which focuses on fostering women in technology. The company has many women involved in this conference as ambassadors, session chairs, committee members or reviewers and in a host of other activities designed to further women’s careers and professional learning in IT.
VMware and Sustainability in India
Both the VMware Bangalore site, which is currently under construction, and a new VMware site in Pune, which is currently being scoped, will be developed to meet Indian Green Building Council (IGBC) Platinum certification.
VMware India has also certified its major sites with US Green Building Council’s (USGBC) Leadership in Energy and Environment Design (LEED) standards, with sites in Bangalore and Pune being either Platinum or Gold certified (or in the process of certification) and 80 percent of the company’s floor area in the country achieving LEED standards.
VMware also currently runs one of the largest fleets of electric carpool vehicles in Bangalore, with more than 500 employees using this service everyday, reducing vehicle emissions in the city. In addition, more than 80 percent of the electricity used by its South Bangalore sites is generated from wind power.
VMware software powers the world’s complex digital infrastructure. The company’s compute, cloud, mobility, networking and security offerings provide a dynamic and efficient digital foundation to over 500,000 customers globally, aided by an ecosystem of 75,000 partners. Headquartered in Palo Alto, California, this year VMware celebrates twenty years of breakthrough innovation benefiting business and society. For more information, please visit https://www.vmware.com/company.html.
VMware is a registered trademark or trademark of VMware, Inc. in the United States and other jurisdictions.
This press release contains forward-looking statements including, among other things, statements regarding VMware's planned investment of US$2 billion in India between now and 2023; the expected benefits of the investment, including office expansions and increases in headcount and capital expenditure in R&D and sales operations in India; the planned launch of and commitment associated with the VMware VMinclusion Taara: Women Return to Work program and the potential benefits of the program to participants; and the strategic significance of India to the Company’s strategies. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. 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) changes in VMware’s financial condition; (ii) adverse changes in general economic or market conditions; (iii) VMware's ability to enter into and maintain strategically effective partnerships and alliances; (iv) delays or reductions in consumer, government and information technology spending; (v) competitive factors, including but not limited to pricing pressures, industry consolidation, entry of new competitors into the virtualization software and cloud, end user and mobile computing industries, and new product and marketing initiatives by VMware’s competitors; (vi) VMware's customers' ability to accept emerging technology and to transition to new products and computing strategies; (vii) the uncertainty of customer acceptance of emerging technology; (viii) rapid technological changes in the virtualization software and cloud, end user and mobile computing industries; (ix) changes to product and service development timelines; (x) VMware's ability to protect its proprietary technology; (xi) VMware's ability to attract and retain highly qualified employees; (xii) the ability to successfully integrate into VMware acquired companies and assets and smoothly transition services related to divested assets from VMware; (xiii) disruptions resulting from key management changes; (xiv) risks associated with international sales such as fluctuating currency exchange rates and increased trade barriers; (xv) risks associated with cyber-attacks, information security and privacy; (xvi) the ability of VMware to realize synergies from Dell; and (xvii) VMware's relationship with Dell Technologies and Dell's ability to control matters requiring stockholder approval. These forward-looking statements are made as of the date of this press release, are based on current expectations and are subject to uncertainties and changes in condition, significance, value and effect as well as other risks detailed in documents filed with the Securities and Exchange Commission, including VMware's most recent reports on Form 10-K and Form 10-Q and current reports on Form 8-K that we may file from time to time, which could cause actual results to vary from expectations. VMware assumes no obligation to, and does not currently intend to, update any such forward-looking statements after the date of this release.
1 Belong. Nearly 50 Percent of Women Engineers Quit Tech. October 2017.
2 IDC Asia/Pacific. Unlocking the Economic Impact of Digital Transformation in Asia-Pacific. April 2018.
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