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|May 6, 1999||
Birlasoft plans acquisition for reaching $200m target
The $33 million Birlasoft, through a series of acquisitions, plans to achieve a turnover of $200 million in five years, newly appointed CEO Anal Jain today said.
''Acquisitions will play a major role in our growth," Jain said.
Jain told reporters that the company has also identified areas like e-commerce and Internet. It plans to foray into telecom and banking.
''We shall get the company listed very soon,'' Jain said without divulging the exact date of the move.
Birla Horizons International had been christened Birlasoft after acquiring the equity stake of its joint venture partner Computer Horizons Corporation Inc of New Jersey, US.
''The new name and identity is indicative of the ambitious plans we have for Birlasoft and our aim is to make it a truly global organisation, spearheading the thrust on IT for the group,'' said N R Kulkarni, group financial advisor, C K Birla Group.
Birlasoft is part of the group's endeavour in information technology. Birlasoft has its India development centre at the NOIDA industrial area near New Delhi. It has a subsidiary in the UK called Birlasoft (UK) Limited, and in the US, called US Birlasoft Inc.
The new markets targeted by Birlasoft would be Europe, West Asia and Asia-Pacific. India is also a focus market for Birlasoft and the company is expanding its presence by opening new offices in Bombay and Bangalore.
The company has strengthened its management team in India and abroad by appointing a new head for its UK operations and a vice-president, solutions for the US.
Birlasoft has also revamped its hr policies, is improving facilities at the India development centre and has launched a help desk for all employees.
An ISO 9001 company, Birlasoft has initiated steps for obtaining SEI CMM certification.
With a team of over 500 software professionals deployed worldwide, Birlasoft focuses primarily on software consulting and development with particular emphasis on offshore services.
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