Iteamic plans to expand in K'taka

Iteamic, a privately-held city-based software services company, which caters to small and medium enterprise (SME) clients in the US, plans to expand its operations in Karnataka. The company has formalised plans to open a centre in Mangalore shortly.

According to Iteamic Founder & CEO Raghurama Kote, the expansion will help the company recruit talent locally. At present, the company employs 250 people in Bangalore.

"We are looking at secondary cities and towns in Karnataka for expansion as the company is growing around 100 per cent year-on-year. The Mangalore centre will house 100 people and it will become operational later this year," he said.

Iteamic, which serves various US-based companies for their financial products, expects to close the fiscal with Rs 42 crore revenue. The company has launched BPO operations for some of its clients in Bangalore.

The five-year-old company recently entered into a alliance with ECI, a San Francisco-based company, to offer compliance consulting and software services. Iteamic had also started developing solutions in the education domain for the European and Asian markets.