Indian tech company VVDN to open in Waterloo region, hire 250 people
Company first expressed interest in region back in 2018, Waterloo EDC says
An Indian tech company plans to open an office in Kitchener-Waterloo and will bring at least 250 jobs to the area.
VVDN Technologies CEO Bhupender Saharan said they're excited to be in the area "because we think the talent will be really great."
He said they plan to hire 250 to 300 engineers as they set up a production facility in the region.
VVDN is an acronym for voice, video, data, network. The company manufacturers products such as wifi access points, artificial intelligence cameras and computer networks, as well as doing product design for voice, video, data and network electronics.
An exact location for the production facility and a timeline for a move to Waterloo region was not part of the announcement.
'Waterloo region or Toronto'
News the company is moving to Waterloo region is a "happy surprise" that "magically happened because of some early touches from our team," says Waterloo Economic Development Corporation (EDC) CEO Tony LaMantia.
He says staff from Waterloo EDC connected with the company in 2018 during a trip to New Delhi.
"Very clearly they were interested in the Toronto-Waterloo corridor," he said.
LaMantia said after 18 meetings with tech companies in California earlier this month, Waterloo region "is having a moment" in that there is a lot of interest from companies to move to the region. He says that's largely because of the tech talent here, thanks in part to the universities and college.
"Canada's a welcoming host community for strong, technical talent and I think for a bunch of reasons they're looking at Ontario and when they're deciding where to land, it's often in Waterloo region or Toronto," he said.