Outsourcing product development firm GlobalLogic plans to implant its space in the embedded software market in India and China. The plan may also include some high voltage software outsourcing firm acquisition in both these countries. In India, GlobalLogic is scouting for firms broadly in Hyderabad, Bangalore and Chennai. For China it is looking for firms who earn revenues in the range of $5-10 million. Moderately, medium size we can say.
GlobalLogic had been on hiring spree for quite some time now. Earlier this year it has inked a deal with Indian R&D operations of supply chain control software and services firm Kewill.
GlobalLogic corporate development VP Rajul Garg says
We are looking at acquisitions in the embedded software space to grow our presence in the vertical. China has strong embedded software expertise and we want to foray in that market this year with an acquisition. We see great potential in the embedded software space with more and more chips being used in products to make them more 'intelligent', whether it is cars or home appliances.
GlobalLogic is backed by venture capital firms Sequoia, NEA and DFJ. It has reportedly got $12.5-million worth of funding last year. GlobalLogic aims to recruit approximately 1,000 employees this fiscal to become a 3,000 people-strong company.
Source
Comment Preview