SunGard Offshore opens 3rd campus in Pune

SunGard Offshore Services, a subsidiary of the $4 billion SunGard, US, inaugurated its third facility spanning across 50,000 square feet here on Tuesday.

The new facility can seat 550 people. Harsh Barve, chief executive officer of SunGard Offshore Services, said: "We currently have 580 employees here, and plan to grow to 1,000 employees by January 2007.

"With this new facility, we now have a total capacity for 850 people and a campus outlay of 80,000 sq ft. We are planning another 50,000 sq ft campus to support our expansion plans."

Mack Gill, president of SunGard Offshore Services, said: "We have been present in India since 1993, and are developing over 60 of our most advanced applications here. We plan to add high-end business process outsourcing around our area of expertise in financial services, hosting and servicing abilities here."

It may be recalled that SunGard, which was listed on the Nasdaq, was acquired by a private equity group led by Morgan Stanley in August 2005 for $11.3 billion - the largest buyout in technology firms.

Speaking of the premium that investors paid for acquiring the company, Ron Lang, group chief executive officer of SunGard's Enterprise Solutions group, said: "Our strength lies in delivering software as a service as opposed to delivery as a product or a licence. We have built a stable model of revenue wherein 90% of our revenues per year are recurring, and therefore offer a highly predictable cash flow to our investors."