Hexaware to double headcount
City-based IT major Hexaware Technologies plans to double its headcount in two years and is scouting for acquisitions, looking to scale up its operations to become a billion-dollar firm over the next six years.
By PTI |
MUMBAI: City-based IT major Hexaware Technologies plans to double its headcount in two years and is scouting for acquisitions, looking to scale up its operations to become a billion-dollar firm over the next six years.
The company, a global IT and process outsourcing services provider also plans to set up three campuses across India.
"In the coming year, we will build three campuses - two in Maharashtra and one in Tamil Nadu. We are also increasing employee strength, which will touch 10,000 over the next two and half years," Hexaware chairman and MD Atul Nishar told media here.
Hexaware currently employs 5,700 people. The first phase of the Chennai campus will be ready by August 2007. The second campus will be set up in Pune and the third in Navi Mumbai.
"We intend to become a billion dollar company in about six years. We have been looking to remain a differentiated company," Nishar said.
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Referring to planned acquisitions, he said Hexaware intended to acquire companies with proven capabilities in enterprise resource planning, banking and financial sector transportation and business intelligence."These acquisitions will be in the range of USD 20-40 million. But nothing has been finalised yet," Nishar said. The company recently acquired US testing firm FocusFrame for $34.3 million.
Hexaware has got a cash surplus of $75 million and part of this will be used for future inorganic growth opportunities, Nishar added. Hexaware expects to finish the current year with a top line of $185 million out of which 70 per cent is expected to come from the American continent.
We expect the same growth rate in the coming year as well, Nishar added. The company, which has 120 clients, including a slew of Fortune 500 firms, plans to increase 30-35 more clients in the coming year.
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It has 21 offices in the US, Europe and Asia-Pacific with development centres in Mumbai, Chennai and Pune and a near -shore centre in Bad Homburg, Germany. In 2005 Hexaware posted $153.77 million in revenue and $20.72 million in net profits.Download
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