Techspan for offshore Infrastructure expansion
Mumbai, May 12: TechSpan India, a Headstrong Services LLC subsidiary, will be investing over dollar 20 million in developing its offshore infrastructure by setting up updated facilities in Noida and Bangalore.
''As part of its expansion plans, TechSpan will grow it's India team from a current base of 1,000 employees to over 1,500 by end of 2006,'' in a release issued here today Headstrong's Chairman and CEO Arjun Malhotra said.
Further, he said the new center in Noida will add 1,500 seats to take the capacity in its Noida centers to over 2,000 seats and TechSpan's Bangalore operations will have a capacity of over 750 seats.
Announcing its first quarter results, Mr Malhotra said the company demonstrated a robust growth in revenues and earnings. In 2005 the revenue grew up by 56 per cent over the previous year demonstrating a strong growth in Domain and Industry led IT consulting work offshore.
TechSpan India demonstrated strong growth in both its centers at Noida and Bangalore contributing close to 25 per cent of Headstrong revenues of USD 113 million for the year ending December 2005. The strong business performance of the India operations is in line with revenue growth witnessed by Headstrong globally, which saw a 46 per cent increase in Q1'06 revenues over Q1'05.