Synechron to invest $35m for development centres in India

Tags: Synechron, IT
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 per cent 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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • It will take at least 4 more quarters for corporate bottomlines to turn around

    Aggregate numbers from corporate results in the June quarter of 2014-15 are hardly different from the previous six quarters, with no positive surprise

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Dealing with a sin called insensitivity

Rage and the notion of being above the law — ...

Kuruvilla Pandikattu SJ

India’s greatest gift to the world

What we hear most often about India these days is ...

Gautam Gupta

Why must innerwear be our best kept secret?

While women’s outerwear rules the marketing roost in India, unfortunately, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture