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| GlobalLogic to get listed in 18 months |
| Press Trust of India / New Delhi Nov 27, 2009, 19:18 IST |
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GlobalLogic, a software product development services provider, today said it is likely to list the firm on the bourses in the next 18 months.
"We may go public in the next 18 months," Global Logic President Shashank Samant told PTI.
However, he said the firm is not looking at listing for raising fund. "Funding is not an issue for us... We are seeing positive growth and have enough cash on our balance sheets."
The firm, which has a considerable presence in India is likely to be listed on the New York Stock Exchange.
Out of 3,000 employees globally, the company has close to 1,600-1,700 people on its rolls in India.
GlobalLogic, which is currently a $100 million (Rs 466 crore) firm plans to cross the half-billion ($500 million) around Rs 2,332 crore revenue landmark in the next five years."We expect to be a half-a billion dollar firm in the next five years," Samant added.
The firm, which has development centres in India, the US, China and Ukraine expects 20 per cent of its growth will be through acquisitions.
"We are looking at strategic acquisitions in niche segments," he added.
The firm had also hired Paul Baker, a seasoned technology industry dealmaker, as senior vice-president of corporate development to lead its M&A strategy.
GlobalLogic is headquartered in Vienna, Virginia (US) and is backed by Sequoia Capital and New Enterprise Associates.
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