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Techspan to invest 20 million USD in B'lore/Noida

Written by: Staff

Bangalore, May 13 (UNI) Notching up a strong 56 per cent growth in India during the first half of this calender year, TechSpan India, a Headstrong Services LLC subsidiary, has planned to invest US Dollars 20 million in its Bangalore and Noida centres.

The company, in a release here, said TechSpan India demonstrated strong growth in both its centres at Noida and Bangalore and contributed close to 25 per cent of Headstrong's revenues of US Dollar 113 million for the year ending December 2005.

The strong business performance of the India operations was in line with the revenue growth witnessed by Headstrong globally, which saw a 46 per cent increase in Q1 of 2006 revenues over Q1 of 2005.

The company also shared its outlook of continuing to grow at 40 per cent during 2006.

To further grow its India operations, TechSpan would be investing over 20 million Dollars in developing its offshore infrastructure by setting up new state-of-the-art facilities in Noida and Bangalore in 2006, the release said.

As part of its expansion plans, TechSpan would grow its India team from a current base of 1,000 employees to over 1,500 by the year-end.

The new centre in Noida would add 1,500 seats to take the capacity in its Noida centres to over 2,000 seats and Bangalore operations would have a capacity of over 750 seats.

Commenting on the company's financial performance, Mr Arjun Malhotra, Chairman and CEO, Headstrong, said ''TechSpan has registered an impressive growth in the last financial year and its performance is clearly one of the best in the industry.'' UNI VK RG TS1711

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