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Hexaware To Raise Indian Workforce By Year-end |
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Written by Arumai_Nagappan
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Monday, 09 April 2007 |
To expand its overseas functionings, Hexaware Technologies plans to get hold of an IT house in the US or Europe for about Rs 170 crore. It anticipates closing the deal by the end of current financial.
P K Sridharan, Hexaware Technologies Executive Director said the company would also raise its Indian headcount by 1,000 by the year-end.
The company has started exploring companies in the US and Europe for growth of its Enterprise Resource Planning (ERP) services in sections including transportation, travel, banking and financial services.
Sridharan said the acquirement would be in the range of $30-40 million that would offer the company a better admittance in these markets.
More than 65 per cent of the company’s incomes originate from the US market and 26 per cent from its European business whereas Asia Pacific, comprising India, makes up only 5-6 per cent.
Last year, the company had adopted a Mexico-based IT company Fox Frames for Rs 146 crore in order to increase its software testing business.
Now Hexaware is in the process of incorporating the company with itself and the process would be completed by the end of this year.
Presently the company has about 130 clients and is adding up 8-12 clients per quarter.
The company has recently opened its fourth development centre in Gurgaon (India). It also has centres in Chennai, Pune and Mumbai.
The Gurgaon centre currently has a seating capacity of 150 people. This will be increased to 1,000 in the next 2-3 years in a phased manner, he said.
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