The Hindu Business Line : Nucleus Software plans to ramp up US presence

NUCLEUS Software has said that it plans to substantially ramp up its onsite development presence in the US by adding up to 40 professionals by the end of the current financial year to serve American clients.

"We have a subsidiary in New Jersey focusing on marketing activities. Last week, the company embarked on development operations there with two dedicated development professionals, and we now plan to scale up the onsite development operations in US by adding 30-40 professionals," said Mr Vishnu R. Dusad, Managing Director of Nucleus Software Exports.

Nucleus currently has five clients in the US including CitiGroup and BankCorp.

It has subsidiaries in Australia, Japan, Hong Kong, Singapore and the US, and a branch office in UK.

The company's development facilities are located at Noida, Chennai, Delhi, Singapore and Tokyo.

Nucleus, which offers products and solutions for the banking and financial services industry, recently announced plans to invest Rs 25 crore in setting up a new five-acre campus at Noida with a capacity for 700-800 professionals. The centre is expected to be operational next month.

"We have 400 professionals at our existing Noida facility. When the new facility comes up, we will have surplus capacity and so we plan to hire 200-300 people by the end of the current financial year to fill it," he said, adding that investments for the new facility would be met from internal accruals. The company's cash reserves stand at Rs 40 crore.

Nucleus is open to acquisition of products, according to Mr Dusad. "We are not looking at acquisition of a company but are open to acquisition of products from another company. We have 5-6 proposals on the table." He added that acquisition was not a "priority" for the company at this stage.

He said that while a large chunk of the investments would go towards the new centre at Noida, the company would also spend on product development and invest in market development.