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Betting on Pune with $2.5 mn investment
Section Investment Pune Posted on Thu Jan 11, 2007 at 09:45:27 PM EST
After Bangalore, global software and technology services firm, ThoughtWorks, has chosen Pune to establish its newest facility at an investment of $2.5 million. The 14,000 sq ft, 175-seater facility will employ 25 people to begin with and will function as a high-end software delivery and consulting center.
"ThoughtWorks is a global leader in applying Agile and Lean practices in IT. Our Bangalore operations have contributed enormously to our global growth story, and we are looking forward to our new Pune operations to extend this advantage. Since Pune is rapidly emerging as a hub for world class IT talent, we decided to set up our facility here and will keep expanding our base in the city," said Dharmarajan Sitaraman, Managing Director of ThoughtWorks India. The Pune office will service ThoughtWorks' global clients and also provide consulting to Indian businesses in the western region.
ThoughtWorks India has been applying the offshore model to provide solutions to benefit customers, thereby minimising customer risk. "While the company's Bangalore center- housing 190 people has been catering to the offshoring business, the increasing demand for our value added services has made the Pune centre necessary," said Roy Singham, founder and Chairperson, ThoughtWorks Inc.
With over 800 employees worldwide, the Pune centre will provide strategic growth for the company. The company is looking to invest $3.25 million in India by 2007 and will be increasing its headcount at the Bangalore center by 70 people. The group has reported revenues of $110 million for 2006 and expects a growth of 15-20 per cent next year.
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