Xoriant Corp to invest $10 million

The US-based Xoriant Corporation is to invest an additional $10 million over five years for expansion of its operations in India.

The IT services provider is also planning to increase its headcount in the country from 200 to 1,000 by the 2010.

"There is a lot of demand in outsourcing of testing and offshoring of systems integration services both from the US and UK and we are planning to do this from our facilities in India," said Girish Gaitonde, president and chief executive officer.

The additional investment and increase in headcount is also to help the company graduate to becoming a business intelligence service provider from the present IT services they offer, he said.

The company has three centres in the country - Mumbai, Pune and Bangalore - apart from a centre in New York. Mumbai is the main India development centre for company and it expects the expansion to help offer services in the domestic markets too.