Financial Daily from THE HINDU group of publications
Tuesday, Jul 13, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jul 13, 2004 |
||
|
|
||
|
Info-Tech
-
Off-shore Development Headstrong arm plans $7-m facility in Bangalore Moumita Bakshi
New Delhi , July 12 TECHSPAN, a subsidiary of Headstrong Corporation, a $100-million global consultancy, is planning to establish a new facility in Bangalore with a capacity of 500 employees at an investment of $5-7 million. "We plan to set up a new facility in Bangalore that will house 500 professionals in the first phase and 1,000 professionals in the second phase. The construction of the first phase is expected to be completed in a year," said Mr Arjun Malhotra, Chairman and CEO, Headstrong. The company estimates the investment for the upcoming facility at $5-7 million, to be funded from internal accruals. "The second phase ramp up for the proposed facility will take place by the end of 2006 or middle of 2007," Mr Malhotra said. TechSpan currently has 350 employees in India, of whom 250 are based in Noida. It also has a leased facility in Bangalore housing 100 professionals. "Till the new facility comes up in Bangalore, we intend to sub-lease another centre to add 130 professionals, taking the headcount in Bangalore to about 230. When the new facility opens, all these professionals would move to the new 500-seat facility," Mr Malhotra said. He added: "Our customers want us to scale quickly and we already have an established model, hence there is a requirement for a new centre." Asked if the company was eyeing inorganic growth strategy to expand its operations, he said: "At any given point, we are looking for companies with domain expertise in financial space, particularly investment banking arena. If we identify a firm that adds value to our functions, we will go ahead." The company had facilities in India and the Philippines focused on delivering client-specific solutions.
More Stories on : Off-shore Development | Software
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|