Software R&D company GlobalLogic focusing on acquisitions, India a potential target

GlobalLogic is mulling an acquisition spree around the world and India has been targeted as a potential destination. The software developer said it will be undertaking investments in the BRIC nations, on top of Europe and Argentina. GlobalLogic is a renowned research and development provider and it is hopeful of sealing at least a deal in India before the end of October. The firm said it is targeting a minimum of one firm in India and will be making an announcement soon.

Its Indian acquisition will be undertaken in the digital and social media industry.  The additional Indian acquisition is expected to add to GlobalLogic’s existing Indian operations, increase its portfolio and enhance its business offering. Shashank Samant, GlobalLogic president said the acquisition is strategic as it adds to the firm’s existing operations and gives it another Indian city to its India operations. It is expected that about 1,000 engineers will be added to the firm’s existing Indian workforce of around 1,700 individuals.

Other than its Indian operations, the firm is also mulling an Eastern Europe venture, for which it will be hunting for embedded systems for medical electronics firms to buy. GlobalLogic chief financial officer, Wayne Grubbs said the East European acquisition will be done by the first quarter of the 2011 financial calendar. The firm’s 2009/2010 financial revenues were pegged at $105 million, with expected 2010 earnings of $145 million via organic growth.

On its part however, the Indian acquisition is expected to add an additional $20 million to the firm’s overall revenues. GlobalLogic, formerly Induslogic is a global software product engineering company, based in Virginia, USA founded in 2000. It is a privately held company funded by NEA, Sequoia Capital, and New Atlantic Ventures.

GlobalLogic provides outsourcing R&D and support services in the Telecom, Healthcare, Enterprise and Consumer domains. Some of its well known partners are AOL, IBM, Polaris, OpSource and Mantas. GlobalLogic is an Outsourced Product Development company with headquarters in the United States; sales offices in the UK and Israel; and product engineering centers in India, Ukraine and China.

GlobalLogic partners with software-enabled businesses through tailor-made engagement models to deliver quality products to market rapidly and cost-effectively. Leading in software R&D services, GlobalLogic has created a network of global innovation hubs throughout the US, India, Ukraine, China and Argentina that connects clients with 3,000 of the brightest and most innovative software minds.

27 Sep 2010