Globallogic to raise headcount in India
Monday, 15 November 2010, 20:19 IST
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Panaji: Software services provider Globallogic plans to increase its staff headcount by 2,000 across centres in India, China and Argentina by March next year, taking its total workforce strength to 6,000 employees. The company, which plans to list on the U.S. bourses in the second half next year, will add about 2,000 people to its existing employee base of 4,000, Globallogic CEO Peter Harrison told reporters here. "We will ramp up our headcount across our centres like Argentina, India and China," Harrison said. Half of the additions would take place in India, he added. The company has 1,700 employees in India at present, who man centres at Pune, Noida, Bangalore and Nagpur. On the company''s plans to go for a public float in the U.S. to raise funds for acquisition plans, Harrison said, "We are in the process of interviewing bankers. We would expect to list in the second half of next year." He, however, declined to comment on how much the company expects to raise. In addition, the company said it has been on the lookout for potential acquisitions globally to strengthen its capabilities. It will look at investing $40-80 million over the next 12 months on global acquisitions. Asked if the company has any plans to list its Indian arm on the domestic bourses, Harrison said, "We could look at it post-listing in the U.S." The Virginia-headquartered company is backed by Sequoia Capital, New Enterprise Associates, Goldman Sachs and New Atlantic Ventures. The company has more than 150 clients spanning sectors such as digital media, finance, healthcare, infrastructure, software, retail and telecom.
Source: PTI
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