IT boom: Tech giants announced $25 million investment

This partnership will succeed in creating at least 100,000 new jobs in the next five years in Pakistan. DESIGN: CREATIVE COMMON

This partnership will succeed in creating at least 100,000 new jobs in the next five years in Pakistan. DESIGN: CREATIVE COMMON

THE EXPRESS TRIBUNE, KARACHI, 08th OCTOBER 2013: Texpo and Cannon Technologies– two tech companies with combined experience of 50 years – have announced an investment of $25 million in Pakistan over the next five years.

Revealing the investment plans on Monday at a local hotel, representatives of the two companies said that this investment will bring major changes in the information technology (IT) sector of Pakistan, as over 25% of this money will be invested on the training of quality human resources.

Chief Executive Texpo, Dr Sarfaraz Alam, while talking to The Express Tribune said that the two partner companies are confident that their investment will not only give them good returns but also make a very good impact on the IT sector of the country.

Texpo has an experience of over 15 years with its head office based in the United Arab Emirates. Cannon Technologies is based in the United Kingdom and has been in the IT industry for the last 35 years.

Alam said that he believes this investment will return at least $5 million a year. “If we get the atmosphere we have planned for, our return may be much more than this because of the huge potential of the IT sector in the country, he added.

According to Alam, this partnership will succeed in creating at least 100,000 new jobs in the next five years in Pakistan. New employees Texpo and Cannon Technologies will be trained for not only local but also for the global job market.

Managing Director Cannon Technologies, Matthew Goulding, said, “This will be a fantastic way for us to meet with people involved in some of the most exciting IT projects in Pakistan and the Middle East, and it gives us an excellent opportunity to join with Texpo in promoting our industry leading T4 Data Centre Solutions range,”

The two representatives of the companies said that Pakistan is fast becoming the destination of choice for a international companies.

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