GlobalLogic to Acquire Two More Companies
January 11, 2008
While continuing its global expansion even in a dipped Dollar scenario, GlobalLogic is now looking at acquiring two more companies of global footprint.
The company is now going to acquire one organization in Latin America and one from the Ukraine. “Within the first quarter of 2008 we will be announcing two more acquisitions. This time we will be entering into Latin America and we will be further strengthening our footprint in Ukraine. The Ukrainian acquisition is going to be finalized sooner and we expect to formally announce it by next month. However, we will be finalizing the Latin American acquisition by March 2008,” said Rajul Garg, VP-People and Corporate Development, GlobalLogic.
However, Garg refused to disclose any names. He said, “These acquisitions will defiantly going to further strengthen the existing focus of the company. Presently we are targeting on Telecom, Internet and Finance. There would be no new focus area for the company with these acquisitions. But these two upcoming acquisitions will add specialized expertise within these areas.”
Without giving out financial details, he said, “In terms of size these two acquisitions will add two new capacities of around 200 to 300 seats each. As of now, we have 2300 employees. So after these two acquisitions we are going to be around 2800 to 2900 professionals working with us.”
In addition to this, the company is very aggressive towards India as a market and it is also looking ahead to further expand its base in India. “I think, even, I foresee that within six months from now, we will be acquiring at least one company from India. But it is very premature to say anything on this now.” It is notable that GlobalLogic had acquired two organizations including one in India. The Kewill Engineering Center of Aurangabad is been acquired last year by GlobalLogic and relocated to Pune. With this acquisition the company has strengthen its mobile offering. Whereas, Ukraine acquisition have added telecom expertise in GlobalLogic’s focus.
As most of the other off-shoring organization, GlobalLogic is targeting the Indian market. Adding to this, Garg added, “We see India beyond just a talent hub. We actually target India a potential market. Around 5 percent of our total revenue comes from the Indian customers. Internet is one such space where we have seen lot of potential in the Indian market.”
As far as company’s total breakup is concerned, the company has around 20 percent of revenue coming from the mobile and out of that around 10 percent revenue is coming only from location based services. “Value added services in the mobile space are definitely going to drive the market. We are delivering great value to our customers in this area. After that we also see consumer Internet as a lucrative market opportunity for us.”
