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GlobalLogic to invest $50 mn in India, double headcount

GlobalLogic to invest $50 mn in India, double headcount
PTI
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First Published: Mon, Mar 12 2007. 12 16 AM IST
Updated: Mon, Mar 12 2007. 12 16 AM IST
New Delhi: US-based outsourced product development firm GlobalLogic will invest $50 million (Rs220 crore) in India in 2008 and is looking to acquire small- and midsized-companies here to expand its presence.
The company was targeting $100 million in revenue globally in the coming fiscal, with India contributing 15-20% from 9% currently, GlobalLogic, director marketing, Rohit Sharma said.
“We will also ramp up our India headcount to about 3,500 in the next two years from over 1,500 now,” Sharma said, adding that the company expected to close acquisitions deal in India in the next six-eight months.
GlobalLogic last week opened a development centre in Pune and will open another one in Hyderabad next year. The company also has delivery centres in Noida, Nagpur and Ukraine.
GlobalLogic recently acquired the R&D operations of Kewill, a supplier of global supply chain control software and services. Kewill will now transfer its R&D operations in India.
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First Published: Mon, Mar 12 2007. 12 16 AM IST
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