| CGS to invest $15 mn in India |
| Our Regional Bureau / Hyderabad July 27, 2006 |
| Computer Generated Solutions (CGS) Inc, a Rs 800-crore IT services provider, plans to invest $10 million-$15 million in India in the next one year. The company plans to invest this amount in both organic and inorganic growth. It has already invested $1 million in India so far. "We have around 60 people working in the software development centre in Hyderabad. We intend to increase this number to about 500 in a year-and-a-half. While we will be adding employees at the existing centre, we are looking at acquiring some Indian companies as well," Michael Wilding, senior vice-president (technology solutions & training) at CGS, said. CGS is looking at acquiring companies that are into software development and have an employee strength of around 400. "We have appointed a couple of consultants to help us in zeroing in on a company," Wilding said. CGS is also bullish on the Indian market, which contributes about 8% to the company |
