5th Generation Technologies, a Chennai, India-based business software company, is moving to Sunderland, UK, to support the development of new products in the North East.
The company, which produces business intelligence tools for companies in a number of areas including manufacturing and retail, will employ up to 25 people. It decided to set up in Sunderland after being contacted during a campaign by the Regional Development Agency One North East’s Inward Investment team to promote Sunderland Software City to Indian software firms.
5th Generation Technologies will receive a £200,000 Grant for Business Investment from One North East.
The company will use Sunderland’s Evolve software business centre as its European base and plan to export into new markets across the continent as the business grows.