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News >> Technology >>
Ciber buys firm in India
By agencies
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Tuesday, 21 June 2005, 19:30 IST
BANGALORE: Almost six months after the outsourcing topic boiled down, Ciber Inc. is boosting its offshore presence in India.
The Greenwood Village information technology consulting firm said it is buying a Bangalore-based IT consultancy, Knowledge Systems, for $2.5 million.
The total price tag could rise an additional $600,000 if Knowledge Systems hits certain financial targets over the next two years.
The Bangalore firm employs 175 consultants, 125 of who are employees and 50 who are subcontractors. The acquisition will bring Ciber's India-based work force to about 300.
The company employs more than 8,000 globally.
Ciber CEO Mac Slingerlend said the purchase will help his company retain U.S. jobs by offering customers lower-priced software development and testing services.
"If I don't do work offshore, I lose American jobs," Slingerlend said.
In a news release, Slingerlend said the increased offshore presence in India "is complementary to our CIBERsites initiative."
"Simply put, our clients need to save money in their IT budgets," he added.