Capco to set up excellence center in B'lore

CIOL Bureau
New Update

BANGALORE: Europe based Capco, which specializes in business and tech consultancy for the financial segment, plans to open its technology excellence center in Bangalore. According to Capco executive VP, Predrag Dizdarevic, "We are trying to build a critical mass of experienced engineers who can help our clients set up their architectures."

Capco counts among its clients, some of the world's leading stock exchanges and Wall Street firms.

The company's Bangalore global delivery center kicked off operations in December and handles application development and services as well as BPO work such as reference data processing. The latter involves managing data services and validating the data process. More than $one million has been invested into the Indian center and more is expected to follow.

"Currently, the company's total number of employees is around 110. We plan to double this figure by the year-end. The technology team, which currently employs 50 engineers, would be upped to around 80 by end of Q2, 2005," informed Dizdarevic. The engineers develop applications to support reference data processing and also solutions to support customer requirements. In the operational risk space, the team would develop, maintain and operate software from the Indian center. While the company's other technology center is in Sunnyvale, the Indian center would be core to the company's IT development activities.

Capco has roped in Wipro as a technology partner and hopes to have similar tie-ups with other Indian ISVs for joint go-to-market initiatives. Dizdarevic said that following its expansion this year with the headcount touching 200, Capco's Bangalore facility would be the biggest office for the company globally. "The driving force for us to come to India was the talent here and not the low-cost of operations. We want the Indian center to play an important role in our global operations," he said.

A profitable $100 million company, Capco shares the turf occupied by consulting firms like Accenture, PWC and others. The company hopes to touch $120 million in revenues in 2005.