Bangalore-based Devraj Group firm Lakshmi Access Communications Systems today said it will invest around Rs 100 crore in the next two years on research, product development and marketing activities. The company, which forayed into wireless media services in March this year, said it plans to sell around 10 lakh units of its first product ''Magnum'', a touchscreen media device, by the end of this fiscal.

"We are pumping in around Rs 100 crore on our research and development, product development and other marketing activities," Lakshmi Access Communications Systems (LACS) Chief Executive Officer Mahendraa Kumar D Jain said. He said LACS plans to introduce ''Magnum'' in the North Indian states this month following its launch in South India in March, this year.