The Hindu Business Line : Pegasystems plans to hire more

Hyderabad, Nov. 19 Pegasystems Inc, the US-based provider of business process management software, has announced investments of $200 million in the next five years for expanding the research and development centre here.

The company, which opened its R&D initiative at the DLF Cyber City here on Tuesday, would have about 140 high-end engineers in a year. “We are going to add 500-1,000 engineers here in the next five years,” Mr Alan Trefler, Founder and Chief Executive Officer of Pegasystems, said.

Addressing a press conference here, he said the slowdown had not affected the company’s revenues, notwithstanding the fact that all the top ten US banks and seven of the top 10 North American insurance companies were its customers.

The company’s third quarter revenues went up to $52.7 million, showing an increase of 25 per cent over the same quarter last year. For the nine-month period, the revenue was at $152 million, with a growth rate of 32 per cent.

“When asked whether those who were given pink slips by other companies would be inducted, he said, “Why not? The reason (for them getting pink slips) is the macro economic conditions. We will take them based on their performance in the test and interview.”

Mr Suman Reddy Eadunuri, Managing Director of Pegasystems Worldwide India Private Ltd, said the Indian arm could have multiple locations in Hyderabad.

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