"We are in negotiation with some of the animation studios in Hollywood and expected to close the deal soon", Sri Chaganty the CEO and President of the company told the presspersons here on Friday. Though promoted in 1996, Ceeyes Software had entered movie animation industry in 1999. The company had successfully completed the entire Telugu film "Devi Puthrudu" recently.

"The animation parts in the movie are on par with the Hollywood standards", Chaganty claims.

Further, Ceeyes Software has proposed to set up software development center at San Jose, USA with an initially investment of $ 3 million. The Indian development center at Hyderabad, which focuses on: real time systems and embedded technologies, e-Business integration services and solutions and creative imaging and content development.

The company has so far invested about $ 9 million to set up the state of the art facility in Hyderabad. This apart, the company also plans to set up yet another development center in Cebu, Philippines to cater to the needs of clients based in Far East countries, Chaganty said.

In the current year ending March 2001, the company has projected to have a turnover of $5 to 6 million, while it has on-hand orders to the tune of $ 10 million for the next fiscal, Chaganty said. Besides the movie animation works, the company offers solutions to accelerate product development and system integration projects, he added.