New York-based IT firm Synechron today said it will set up two new
centres in Bangalore and Hyderabad and invest about $30-35 million (over
Rs 210 crore) in the next three years in India.
The two new
centres in southern India will focus on delivering domain intensive and
differentiated technology capabilities to clients in the banking and
financial services, Synechron said in a statement.
"Synechron
plans to aggressively drive business by investing $30-35 million on
India expansion over the next three years," it added.
The
company, which already has a centre in Pune, plans to ramp up expansion
to 225 employees in Bangalore and to 150 in Hyderabad in the current
fiscal.
This will take the company's total headcount in India to over 5,000 professionals, of which 3,800 are based in Pune.
"Our
expansion drive is in line with our strategy to increase our delivery
capabilities in India giving Synechron access to a larger and highly
capable talent pool," Synechron co-founder and CEO Faisal Husain said.
The
infusion of skills from these centres will enable Synechron develop
solutions for global and India customers and lend further cadence to the
company's delivery credentials, he added.
The company has been
growing at a CAGR rate of over 35% for the past six years to become a
$200 million annualised revenue entity.
It provides technology,
consulting services with a micro verticalised focus in capital markets,
insurance, mortgage banking, energy and commodities, and digital media.
Founded in 2001, Synechron has presence in the US, Canada, UK, The Netherlands, UAE, Japan, Hong Kong, India and Singapore.
SOURCE: Business Standard
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