The company under its expansion plans is expected to invest $10 million at its two offshore development centres in Bangalore and Chennai.
In addition to this, the company which was started a decade ago is planning to up the pace of growth and is planning for an IPO when it touches the figure of $100 million. The company is targeting to touch $1 billion by 2011.
The company in addition to this is also planning to invest in new geographies including China, Canada and Eastern Europe. No official comments were forthcoming from the company on any of their plans.
The company in addition to its high end software engineering solutions is also active in product development and holds 55 per cent stake in iConnect Inc., which specialises in collaborative commerce.
Caritor also has aggressively invested in the development of a customer service product which is being used in call centre operations for its clients. The company currently employs around 1,400 professionals and this number is expected to be ramped up pretty fast.
