HTC Global Services Aims To Clock USD 1 Billion Revenue By 2020

June 23, 2017 13:20
HTC Global Services Aims To Clock USD 1 Billion Revenue By 2020

HTC Global Services Aims To Clock USD 1 Billion Revenue By 2020:- US-based IT service provider HTC Global Services is looking to scale up its business and aim to clock USD1 billion revenue by 2020.

Founded by Madhava Reddy, HTC has operations in India, Singapore, Malaysia, Australia and Middle East. Recently, the USD 320 million company has acquired, a global technology consulting services and outsourcing company, the Ciber Incorporation, which serves companies in the automotive, telecom and entertainment. The combined strength of the company along with Ciber will help in offering customers a comprehensive set of services across a range of industry sectors, believes HTC. Ciber was acquired by HTC for over a USD100 million.

Madhava Reddy told a leading news channel that, “The acquisition of Ciber will help HTC in increasing its footprint in other parts of the US. Within the US, Ciber operates 15 offices, employing 2,200 personnel and a clientele of over 100 customers including the automotive major Ford. The company, post the acquisition, is looking at a turnover of USD600 million, which in the next three years, will take up to the USD 1 billion mark.”

The company primarily caters to insurance, education, government, finance and healthcare. HTC’s previous acquisition of CareTech three years back has given the company an edge into the healthcare sector. Around USD 100 million were spent on this acquisition by the HTC.

When asked if the company is exploring more acquisitions in the future, Madhava Reddy said, “We will focus on organic growth now. We have a sizeable business pipeline in our current geographic markets and industry verticals and we will consolidate our operations further.”

The company has four facilities in Chennai and one in Hyderabad and small operations in Delhi and Mumbai. It has 11,000 employees worldwide, of which India accounts for about 5,500, the US for about 5,000 and the rest of the world accounted for the remaining 500.

“We will expand our workforce by another 5,000 in next three years. And we will focus on our core strengths. We have created a valuable customer base for ourselves whom we partner in their broader IT strategy. We have nurtured our leadership teams. There will be emphasis on emerging technologies and opportunities, including those in the Internet of Things (IoT) and Data Analytics,” added Mr. Madhava Reddy.

SUPRAJA

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