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NESS to hire 5000

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CIOL Bureau
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BANGALORE: NESS Technologies, a provider of IT solutions, has announced the completion of its merger with Apar Infotech, a Pittsburgh based software services company. Due to the merger, which took place in May and was valued at $78 million, Apar is now called Ness Global Services and will become a new business group within NESS Technologies.

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The company also said that since the merger, the Indian arm had added 250 people and would be looking to add around 300 people more by the end of the year. It will be increasing its workforce in India to around 5,000 in the next three years.

“With customers asking for an offshore based service fulfillment and NESS not having such an offshore base, we had the options of putting in a direct investment, working with a partner or merging. As working with Apar has been a success, we decided to take the relationship to the next level. With the merger, NESS will be leveraging on Apar’s offshore execution model to provide increased value to customers,” said NESS Technologies President and CEO Raviv Zoller. The Indian branch of the company will now provide offshore services to the North American, European and Asian regions.

Speaking at the occasion, NESS Global Services President Rajeev Srivastava pointed out that both companies had healthy finances and stressed that the only reason for the merger was the desire to provide a synergistic set of services to customers.

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“The old APAR Infotech had centers in Bangalore and Mumbai. Taken together, there are about 650 IT professionals and a little over a 100 support staff working in these locations. By the end of the year, this count will be increased to over 1,100 people. The end of next year should see us 3,000 strong and the following year we should grow to touch 5,000,” said Srivastava.

He added that the Bangalore center alone, which employed around 450 people would grow to around 850 by the end of the year. He reiterated that most of the growth would also be focused around Bangalore.

NESS Technologies expects its total avenue revenues to touch $300 million with this merger apart from a 40 percent increase in its workforce to 3,800 employees. The company will now have offices in 12 countries including Israel, Canada, US, UK, Netherlands and Czech Republic. With the merger, the Wolfson Group, a current major shareholder, will hold 34 percent and Warburg Pincus, a global private equity firm, will also hold 34 percent of the company.

(CNS)

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