While talking to The Financial Express, the managing director of Binary Semantics, Mr Akhil Choudhary said that Binary is currently talking to companies in Netherlands and the UK for joint venture. "We would prefer to partner with a European companies which already has a presence in software or e-commerce and enjoys good relations with its client. We have initiated talks with a couple of company based in Netherland and the UK for the purpose." however, he refused to disclose the name of the companies. The company wants to forge an alliance to save start up time as well as to have access to a readymade client portfolio in Europe. However, if such a tie-up does not work out, Binary will set up its own subsidiary, said Mr Choudhary adding that Binary is already executing e-commerce projects for clients in the UK, Netherlands and Switzerland.

According to Mr Choudhary, the company has earmarked around Rs 1 crore for setting up operations in Europe and rest is being spent in expanding software development facilities in India. The amount, according to Mr Choudhary, will be spent by the end of the next financial year and the investment will be funded by internal accruals and debts. Binary is setting up a new development facility at Gurgaon with a capacity of 180 work stations. In addition, around 60 work stations are being added in one of the existing facilities. The company currently has around 220 seats capacity in three development centres including one in Delhi and two in Gurgaon.

The civil work is in progress for the forth facility, he added. Binary already has a presence in the US market through one of its sister company, Infotech Consulting. Infotech Consulting procures project in the US and outsources them to Binary in India for offshore development. Besides, Binary is executing projects in Singapore also. Mr Choudhary said that the company is expecting substantial increase in its order intake from the US and Europe market and therefore building additional capacities to meet the demand.