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HTC Global targets $1 billion business
HTC Global Services, a software and BPO company founded in the US by a Telugu NRI over two decades ago, has set eyes on billion dollar business by the year 2020. The company which recently acquired US-based Ciber Inc for $93 million has a current run-rate of $600 million, with the acquired company accounting for $300 million.
Hyderabad: HTC Global Services, a software and BPO company founded in the US by a Telugu NRI over two decades ago, has set eyes on billion dollar business by the year 2020. The company which recently acquired US-based Ciber Inc for $93 million has a current run-rate of $600 million, with the acquired company accounting for $300 million.
Acquires US-based IT firm Ciber Inc for $93 million
“Our vision to grow into a billion-dollar company by the year 2020 and the new acquisition fits into our growth strategy as it brings in a new client base of over 100 companies and adds over 3,500 employees,” Madhava Reddy, founder and CEO, HTC Global Services, told the media here on Thursday. Reddy, a Telugu NRI, founded the company nearly 27 years ago in Michigan, US.
At present, the software company employs 11,000 globally, including those added to its rolls from Ciber Inc which is the second acquisition for the company in the last three years. Earlier, it acquired CareTech Solutions in 2014 to strengthen its position in healthcare sector. But the company will now focus on organic growth instead of acquiring another company.
HTC Global Services has global delivery centres across multiple time zones in North America, India and Malaysia. Its operation in India is spread across Chennai and Hyderabad. It has 6,000 employees in India, including 500 in Hyderabad.
On the recruitment plans, Reddy said HTC Global would add 5,000 new employees by 2020.
“As of now, we have not laid off any employees. And we don’t see any adverse impact on the IT sector because of Trump’s presidency. As in the past, the US needs skilled workforce,” he said. Reddy doesn’t also see automation impacting IT jobs.
Replying to a query, he ruled HTC Global going public. “We are a private company and it will remain so as we have no plans to go public,” he said.
By Business Bureau
