Software company red hat banks on india to hit $ 5 billion turnover in 5 years – the economic times usd into pounds
MUMBAI | DELHI: Red Hat, the open-source software company, said its India business was growing at more than double the rate of the overall company and would be an important contributor to its target of reaching $5 billion in the next five years.
Red Hat has over $2 billion in annual revenue currently and grew over 21% in constant currency last year. Usa today subscription Open-source software is freely available, so Red Hat’s business model depends on customers paying for the support and service it offers and not on license fees, making the company’s offerings typically cheaper than proprietary software. 200 usd to euro “India is one of our fastest growing markets. Binary to english translator Red Hat does really when there is net new infrastructure to be set up. Binary to decimal examples And the rapid pace of development that India is seeing sets really well with our offerings,”
James Whitehurst, CEO of Red Hat, told ET.
Red Hat-supported software is already being used by the Indian government’s biometric idenitification program — Aadhaar. Cdn to usd conversion The company also has large government and public sector organizations such as the Centre for Railway Information Systems, the Life Insurance Corporation of India and SBI Insurance as customers. Usd xau The BSE’s trading platform also runs on its open-source software.
The company is also betting on geographic expansion in the region to boost growth. Dollar to pound exchange rate today It will look to set up small teams in India which will focus on countries like Bangladesh and Sri Lanka. Stock market futures yahoo “We have a couple of guys covering Sri Lanka, couple of guys covering Bangladesh but it is a shift away from what we were doing earlier. Naira to pounds exchange rate today Now we are looking to build more local partnerships, build more local solution delivery capabilities and maybe a little later we will figure out how we can actually be there and do a lot more,” Rajesh Rege, managing director of Red Hat India, said. Usd to myr converter Rege added that the company was also looking to expand to smaller Indian cities.
“We are interested in smart city deals that are happening in the state capitals and in the setting up of IT infrastructure in these regions. Binary arithmetic calculator This will be partner-led because that is the Red Hat strategy,” Rege said. Dollar to indian rupee exchange rate today Red Hat has seen particular success with the government, which has a policy that requires the use of open source, and in sectors such as banking, telecom and manufacturing.
The company is now looking at ways to bring in startups, which typically use some form of open source, onto its offerings. Usd zar chart “Startups, because they have very little money, typically start out with open-source architecture. Decimal word problems 5th grade But when they scale, they realize that they would like the kind of support that Red Hat provides and then we have to bring them over. Call and put options examples We are looking at programs that can identify them sooner in that process,” CEO Whitehurst said.