HTC Global Services plans strategic acquisition

To ramp up operational efficiency and expand its global footprint in specific verticals, IT and IT-enabled services (ITES) provider HTC Global Services said on Tuesday that it is in talks with three companies with revenues below $170 million to carry out a strategic acquisition.

Interacting with the media, HTC Global Services President and CEO Madhava Reddy said, “So far we have grown organically. We are seriously considering strategic acquisitions for our growth. Currently, we are in talks with one large US-based company and two small Indian companies,” he said.

Another top official of the company revealed to Deccan Herald that the US company is in the health vertical with a revenue base of $150 million, while the other two Indian companies are operating in the mobility and the ITES spaces with revenues between $10 million and $15 million.

The company, which has three delivery centres in India, opened its fourth one at Vandalur near Chennai on Tuesday at an investment of Rs 100 crore. The facility will house 4,500 employees.
HTC Global Services is going in for a massive recruitment plan of taking in 10,000 employees for the next five years.

HTC Global Services Executive Vice-President Chary Mudumby said the company will invest Rs 50 crore for the current fiscal in India.

“We will recruit 7,000 for India operations while the remaining will be for our operations outside India,” Mudumby said.

“Of the Indian recruitments we will be making, 35 per cent will be fresh engineering graduates and they will be trained at our centres. The rest of them will be via lateral and employee referrals,” Mudumby said.