As part of its aggressive growth strategy, NASDAQ-listed Magic Software Enterprises on Wednesday said it wants to achieve a revenue of $60 million in India by 2007 and boost the number of partners for its two products in the country.
Magic's ambitious target is significant as the state-of-the-art business integration and development technology provider's total global revenues for the year ended December 31, 2003, was $63.39 million.
India represented a key growth market for Magic Software, regional sales manager (Asia Pacific), Meir Koren, said, adding the aim was to have a pool of 50 iBOLT and 150 eDeveloper partners in India by 2007.
According to company officials, eDeveloper is a software development and deployment core technology that enables enterprises to accelerate the process of building and deploying business software applications that can be rapidly customised to meet current and future trends.
The company currently had around 20 eDeveloper partners in India, general manager, Magic India, Nitin Bhosle, said.
While eDeveloper was for application development, iBOLT, the company's other product, was for business integration, officials said.
They said iBOLT was a business integration and process management and development solution providing enterprises with the agility to deal with the never-ending stream of business challenges. The company currently has its research and development operations in Pune.