3000+; Flextronics to go on a hiring spree
Close on the heels of private-equity firm Kohlberg Kravis Roberts and Co (KKR) acquiring 85% stake in the company, Flextronics Software Systems on Wednesday outlined its expansion plans.
By Moumita Bakshi Chatterjee, TNN |
NEW DELHI: Close on the heels of private-equity firm Kohlberg Kravis Roberts and Co (KKR) acquiring 85% stake in the company, Flextronics Software Systems on Wednesday outlined its expansion plans.
The company plans to hire 3,000 professionals this year. “We aim to grow our revenues to $500m in the next two years. We will be hiring 3,000 professionals this year. Close to 80-85% of this headcount growth will be in India,” Ash Bhardwaj, chief executive officer of Flextronics Software Systems, said.
FSS, with a revenue of $300m, has 7,000 employees across various facilities. About 5,000 professionals are located in the Indian centres (Gurgaon, Chennai and Bangalore).
“We will also be growing our presence in the Eastern Europe. We are currently in Ukraine and looking at Belarus. In addition, we will be expanding in China from the current location in Beijing to other cities,” he said. The company has delivery centres in South Africa, Germany and the US.
FSS has appointed Sanjay Dhawan (founder of Inkra Networks) as new chief strategy officer. “Sanjay Dhawan comes with a domain expertise in technology and products, and he will play a key role in our growth in areas such as hardware design and system-level consultancy practice,” he said.
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It may be recalled that in April this year, an affiliate of Kohlberg Kravis Roberts, the US private-equity firm, decided to buy the software business of Flextronics International in a deal valued at $900m. Flextronics, retained a 15% stake in the business.Mr Bhardwaj said the closure of the deal would happen sometime next week. “We are in the process of finalising new name for the company, and the board structure is also being finalised,” he added.
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