• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Pune, Oct. 8 The US-based outsourced product development company GlobalLogic is all set to expand its footprint in the country through acquisition.

Mr Peter Harrison, Chief Executive Officer, told presspersons the company was in talks with a couple of companies in the country and one of them was from Pune. The company had done a couple of acquisitions last year.

Asked how the acquisition would be handled, he said the company always bought out the companies in half equity and half cash basis.

He said the companies GlobalLogic was looking at were small enterprises with around 200-400 staff.

Mr Harrison said the company was launching a product, which would have the same look and feel of the iPhone and acts as a PC – like browser. It was working on another product with an European company about delivering location details on the mobile phone. This product would be hitting the market in about four months. The company has three development centres in Noida, Nagpur and Pune.

He said the company was also looking at setting up development centre in the South and was pursuing a three-pronged strategy – open its own office, take over a captive centre or acquire a company. The timeframe for this would be six months, he said and noted that the locations could be Chennai, Bangalore or Hyderabad.

Talking about Pune in specific, Mr Harrison said it would be building its Centre of Excellence here and would be targeting the areas of storage, database, business intelligence, logistics and mobile.

Mr Harrison said the company, which has around 2,000 personnel on its rolls globally, is looking at ramping it up to 4,000. In India, it has about 1,600 on its rolls. He noted that India contributed to about 10 per cent of the revenues, though he did not disclose the turnover of the company. The company began its operations in 2000 with venture capitalists Sequoia and NEA funding. It has so far brought in about $20 million since inception and added that it would go in for funding only for acquisition.

More Stories on : Mergers & Acquisitions | Outsourcing

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
MS kicks off innovation programme in Pune

Copyright © 2007, 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