LabVantage to double headcount in India

New Jersey-based LabVantage Solutions Pvt Ltd, provider of "Information Management System" (LIMS) solutions, will be doubling its human resource in India within the next two years, James Aurelio, chief executive officer said here today.

"We would double our manpower at our software development centre in Kolkata, that already accounts for more than 50 per cent of our global team," said Aurelio.

Apart from Kolkata, LabVantage has its other development centre in New Jersey.

The company is also planning to move to a bigger space from current 8500 square feet office in Salt Lake to accommodate the new team, besides doubling its revenue out of the Kolkata centre in next twelve months, he added.

India has around 51.50 per cent share of the entire manpower of LabVantage, followed by North America with 60 and Europe with 20 people, respectively.

LabVantage, an affiliate of the Chatterjee group headed by Purnendu Chatterjee, is looking at a double digit growth in 2006.

The global LIMS market is around $ 250 million, out of which 60 per cent is catered by four players namely, US-based Thermo, Starlims, Labware and LabVantage, noted Aurelio.

LabVantage is among the top three players in the LIMS market, claimed Aurelio. LabVantage derives 60 per cent of its revenue from North America, 35 per cent from Europe and remaining five per cent from emerging economies including India, he informed.

The revenue earned is uniformly distributed between software development and service, he noted.

The company provides functional solutions for select markets including contract services, food and beverages, health and personal care, biopharmaceutical, process chemical amongst other.

Major Indian clients of LabVantage include GAIL(India) Ltd, Indian Oil Corporation and Reliance. International client list includes names like Adventis, Unilever Best Foods, Carrie Foods.