Mouri Tech to expand operations in Hyderabad
US-based software firm Mouri Tech is planning expansion of its existing operations in the city, in addition to setting up a facility in the coastal city of Visakhapatnam in Andhra Pradesh.
Plans to establish new centre in Visakhapatnam
Hyderabad: US-based software firm Mouri Tech is planning expansion of its existing operations in the city, in addition to setting up a facility in the coastal city of Visakhapatnam in Andhra Pradesh.
The Texas-based company, which is celebrating a decade of its presence in the city this year, has 50,000 sq ft office in the Hi-Tech City area. Now, the company is in the processing of setting up a new facility of similar size in the Financial District, Gachibowli, and an 80,000 sq ft software development centre in Visakhapatnam.
“India is a strategically important location for Mouri Tech, not for cost reasons, but more due to the availability of talent. In the last two years, we have clocked over 100 per cent growth year-on-year and plan to grow even more aggressively in the coming years,” Anil Yerramreddy, CEO, Mouri Tech, said here on Saturday.
The company, which invested over Rs 90 crore into its Indian operations till date, plans to infuse Rs 200 crore more in the next three years. “Being a zero-debt company with solid infrastructure and focus on technology, we are well-placed to invest in the right companies, as well as acquire companies that support our vision and share similar values,” said Srini Sandaka, the company’s CTO. Mouri Tech also has presence in Europe, Middle East, Africa and Australia. Currently, it employs 800 people worldwide, including 500 in India, and plans to add 1000 more. It is targeting annual revenues of $100 million by 2020.