Prism Microsystems , a provider of security information and event management (SIEM) technology, has announced plans to expand its presence in India with the opening of a campus at the Rajajinagar Industrial Estate in Bangalore. The new campus will be a centre for product development for its SIEM solution, EventTracker, and also provide back-office, sales and marketing support to the company’s US headquarters to meet increased demand in Asia and Australia.

Fuelled by increasingly aggressive and indiscriminate cyber attacks as well as stringent compliance regulations, the SIEM market is expected to grow to over $1 billion globally by 2010, a growth rate of about 25-35% year-on-year, according to estimates by analyst firms.

“While a lot of our research, development and back office work has been carried out in India, we are now aggressively expanding operations following the tremendous success of EventTracker in the US market and the growing opportunity provided by India, China and the rest of the Asia-Pacific region” said A.N. Ananth, CEO of Prism Microsystems.

“With the expansion, we hope to leverage the deep pool of technical talent in Bangalore to build a workforce that will help us enhance our competitive edge and maintain our technical leadership. Our highly skilled and talented employees are our greatest asset and are active participants in the long-term development and vision of the EventTracker suite and the company as a whole” he added.