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Information technology (IT) services company HTC Global Services has acquired Ciber Inc, a US-based global IT consulting and outsourcing services company, for $93 million. Established in Troy, Michigan, in 1990, by Indian entrepreneur M Madhava Reddy, HTC Global has taken this strategic move towards further strengthening its position globally.
The acquisition of Ciber Inc will add over 3,500 employees to HTC's existing 10,000 strong workforce. In 2014, the company had acquired US company CareTech Solutions for an undisclosed sum to expand its footprint in the healthcare sector.
"This acquisition will further boost the organisation's ability to deliver exceptional customer service, deep expertise in cutting-edge technologies, and passionate focus on building trusting relationships. With the acquisition of Care Tech and Ciber Inc, we are confident of achieving our vision of becoming a $1 billion company by 2020. We will be recruiting another 5,000 people by 2020," Madhava Reddy said.
The company has offices in several countries and global delivery centres across multiple time zones in North America, India and Malaysia to serve customers globally. However, it gets more than 80 per cent of its revenues from the US market. HTC is currently focusing on the Indian market in sectors including banking, retail, healthcare and higher education.