After acquiring open source player Cignex Global Holding Corporation, global information technology (IT) and knowledge process outsourcing (KPO) company. Datamatics Global Services (DGS) is now looking at expanding its operations in Gujarat.
While the company picked up 72 per cent stake for Rs 120 crore in Cignex, which has operations in Ahmedabad, Datamatics is looking at a capital expenditure of Rs 25 crore for expanding its operations in the state. With a requirement of 10 acres, the company is scouting for land in the state of Gujarat.
"We think Gujarat is a good destination especially centres like Vadodara and Ahmedabad. There are currently 500 people in Cignex of which 350 are in Ahmedabad, 50 are in Bangalore and 100 are spread across the world. We want to grow manpower in Cignex to 2,500 in next three years," said Lalit Kanodia, chairman of Datamatics.
Last year, while Cignex grew by 40 per cent, Datamatics grew by 60 per cent. DGS pegged a turnover of Rs 441.89 crore for fiscal 2011-12 and is looking to become a Rs 1,000 crore company in next three years.
"We look to grow by 20-25 per cent in 2012-13 as against an expected industry growth of 11-15 per cent. Moreover, we also want to look at M&As with anyone who is adjoining to what we do," Kanodia added.