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News >> Technology >>
Ness to raise headcount in India to 5000
By siliconindia
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Friday, 01 August 2003, 19:30 IST
BANGALORE: Ness Technologies, an IT services provider said it is looking at an initial public offering (IPO) in 18 to 24 months. It also announced the closure of its $78 million acquisition of Pittsburgh (USA)-based Apar Infotech and said headcount will grow to 5,000 in India in the next two years according to Mr Kushal Desai, active director of Ness Global Services, the Indian arm of the company.
It currently has over 650 professionals across development centres in Mumbai and Bangalore. The Wolfson Group, and Warburg Pincus, a private equity firm hold 34%, each in the merged entity, with Apar holding 10% stake and rest held by management and employees.
The acquisition of Apar has enabled Ness to provide its customers with offshore capabilities. The Indian branch of the company will provide offshore services, primarily to the North American, European and Asian regions. Ness works in a variety of areas including enterprise portals, knowledge management, billing and payment systems, real-time applications and ERP implementation.