GlobalLogic, a software products R&D company, plans to triple headcount in the country over the next three years. Headquartered in Vienna, Virginia, the company currently has over 1,500 people in India, which is almost half of its global workforce of 3,000 employees. ?We are expecting to grow at a CAGR of 40-45% over the next five years. I will be surprised if our India headcount doesn?t triple in the next three years,? Shashank Samant, president, GlobalLogic, told FE.
The company currently has four centres in the country.
GlobalLogic, which has investment from Sequoia Capital, New Enterprise Associates and New Atlantic Ventures, currently has revenues of around $100 million. ?We are targeting to clock revenues of $200-$250 million in the next three years and ultimately touch $500 million in five years time,? said Samant.
Samant added that the company aims to grow by 10-15% every year through the inorganic route. GlobalLogic, which has had six acquisitions so far, is open to buyouts in both India and abroad. ?We have a broad range of $20 million to $40 million. We will finance it through cash and equity,? he said. The company will acquire to add specific capabilities in the area of mobile applications and payments on the telecom side.
It is also looking at acquisitions to expand its geographic presence around Eastern Europe and Latin America. On its horizon are Chile and Costa Rica. At present, it has development centres in seven countries ? the US, UK, Israel, Argentina, China, India and Ukraine. While 78% of its revenues come from the US, Europe contributes around 12% with the rest 10% is from Israel and India.