Valtech to expand staff to 1000

BANGALORE: France based IT consultancy firm Valtech is betting on its Indian offshore presence in Bangalore to become one of the leading offshore vendors in Europe. Towards this end, the company's CEO Jean Yves Hardy announced today that Valtech would scale its current team of 450 employees in Bangalore to 1000 in 2006.

Elaborating on the company's growth plans, Hardy said, "At present, around 17 percent of our business is from offshore operations and by 2006, we want to earn 33 percent of our revenues from offshore." He further added that the roadmap for the next two years included delivering at least 50 percent of the company's workload through the Bangalore delivery center.

The company has invested around $2.5 million in a new 45,000 square feet facility in Bangalore that can seat 450 engineers, and would make an additional investment to upgrade another facility in the city.

Highlighting how Valtech's offshore strategy differed from the delivery model offered by other players, BV Venkatesh, president and CEO, Valtech India, said, "Most clients are sensitive and demanding about the projects being delivered on time. We try to meet their requirements through our "agile practice" which reduces time to market."

The $100 million company has customers in Europe and USA and provides solutions like architecture consulting and software engineering consulting. Last September, Valtech acquired Bangalore based Majoris for an undisclosed amount.