GlobalLogic sets sight on captive units

By : |January 31, 2008 0

R Jai Krishna

NEW DELHI, INDIA: GlobalLogic, a player in the outsourced product development market, is planning to acquire Indian product development companies this fiscal year.

The company is on the lookout for buying captive units in India, according to Peter Harrison, Worldwide CEO, GlobalLogic.

“We have already identified 12 companies in India, and have earmarked $50 million for this purpose. The company has currently a product range of 300 and is going to acquire companies each close to $10-15 million. It will dilute 20-25 per cent of its equity by listing on NASDAQ,” revealed Harrison.

The company is expanding widely through its India centers to capture the opportunity available in this
$10-billion market.

It is aggressively looking at captives and recently-acquired Nagpur-based Lambent Technologies, a provider of outsourced wireless software product development services.

GlobalLogic is also planning further expansion in the current financial year.

Mobile browser akin to iPhone

Harrison told CyberMedia News that the company is building a mobile phone browser similar to iPhone.

GlobalLogic centers in Pune and Noida are developing the browser, to be released next summer. It will be on par with the one provided by iPhone, informed Harrison.

The company is also looking at developing a new center in the south with a three-pronged strategy. The locations could be Chennai, Hyderabad or Bangalore.

“We will be doubling the global headcount to 4000 in the next 12 months and expand to a new location as well,” added Harrison.

“Under Project SETU a program of GlobalLogic Development Forum, aimed at promoting industry-institution interaction, the company has signed a MoU with the leading engineering colleges to train the students in the latest cutting-edge technologies. Project SETU aims to "bridge" the gap between the current student competencies and industry standards by helping them to advance from their academic stage to professional stage and meet the expectations of the industry in both professional and technical spheres,” Harrison added.

In the last quarter, the company acquired 10 clients including i-flex, iYogi, Ad server, and IQube Resource.

© CyberMedia News

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