Bangalore: Privately held Concerto Software today (Oct 5, 2004) said it would invest $ 10 million and hire 150 people by mid next year for its technology centre in Bangalore, which would house research and development and provide global customer support.

Concerto Software President and CEO James D Foy told reporters in Bangalore the centre already had 60 people working, providing global support and would be ramped up to 150 by mid next year.

Concerto, he said, would clock revenues of $ 250 million this fiscal with India emerging as one of its largest markets contributing about 40 per cent of revenues in the Asia Pacific market.

Foy said the company already had 30 customers in India including Citibank, Wipro and Standard Chartered among others.

"The developers and engineers are already contributing to Concerto software's flagship products. The technical support team is currently up and running and providing customer support," he said.