14 DAY TRIAL // A couple of men from India were arrested for stealing and selling source code from MIC Electronics limited, a Hyderabad-based tech company that specializes in the design, development and manufacturing of LED video displays and high-end electronics and telecoms equipment.
Police say B. V. Ramana stole source code and information on processes from MIC while he worked there as a general manager, The Times of India reports.
He’s said to have offered the stolen information to several companies. Ultimately, he ended up selling it to Bangalore-based GG Tronics Private Limited.
MIC alerted authorities when it saw that GG Tronics started offering “True Color Video” display boards, a technology for which MIC holds the patent.
A second former employee of MIC, M. N. S. Srinivas, was arrested after police searched Ramana’s email account. The two exchanged emails regarding the source code theft.
Authorities have found three laptops, two pen drives, six hard disks, and nine CDs containing MIC source code.