The acquisitions are expected to enhance its technical capabilities in telecom, mobile, business and consumer internet, and embedded technology domains. The company received around Rs 120 crore (Rs 1.2 billion) in February as venture capital from Seqouia, NEA and New Atlantic Ventures. It plans to use this funding to fuel its inorganic growth plans.
Rohit Sharma, director (marketing), GlobalLogic told Business Standard: "We will look at inorganic growth in terms of acquisitions in both India and overseas to help us in offshoring, nearshoring and outsourcing."
Globallogic has already expanded its reach in China and North Asia by acquiring Dalian 3CIS, a software product development company with roots in China. The company had global revenues of $100-150 million last financial year.
This year, GlobalLogic plans to enter Latin America, where it is eyeing an acquisition. "With the Dalian acquision, we will add 75 Chinese engineers. The acquisition will expand sales. Many of our clients are looking to us for guidance in entering China and the North Asia markets, which can be hard for outsiders to navigate," said Kirk Tang, GlobalLogic's vice-president and general manager of China operations. The addition of Dalian strengthens our ties in both the domestic Japanese and Chinese markets, while expanding our engineering skill sets," Sharma added.
