Visakhapatnam IT boost: Franklin Templeton, Innova Solutions to set up campus in city

In what is coming as a heartening news and a major boost to the city’s IT sector, mutual funds and investment solutions company Franklin Templeton, along with its partner Innova Solutions, will be setting up its campus in Visakhapatnam this year.

As per a report in The Hindu, a plug and play facility has been reserved for allotment on the second floor of the Tech Hub. It has been learned that Franklin Templeton and its partner Innova Solutions will invest about $70 million with 198 seats. The campus will be scaling up its operations over a span of eight years and will move out to the outskirts once their allotment of 40 acres is completed.

APEITA CEO (Promotions) Tirumala Chamalla, was quoted by The Hindu as saying, “The opening of their campus in Franklin Templeton and Innova Solutions in the city is a major breakthrough for us as Arizona (United States) was also in the race by offering 50 acres.”

Earlier, Chief Minister Nara Chandrababu Naidu had promised to roll out a red carpet if Franklin Templeton will be setting up their campus in Visakhapatnam. The company was convinced to set up their campus here only after being assured of infrastructure and high-end technological facilities in the areas of Artificial Intelligence, Data Analytics, and others.

The Visakhapatnam campus will also be the company’s first outside the United States.

About Franklin Templeton Investments

Franklin Templeton Investments is a global investments firm founded in New York City in 1947. Over the years, the company has grown to emerge as one of world’s largest asset management group with $740 billion in assets under management (AUM).