Apportions investment outlay of $30-35 million on India expansion
India, April 28, 2014: Synechron, one of the fastest growing global IT services companies today announced the formal inauguration of its new Bengaluru and Hyderabad facilities, thereby fortifying its delivery capabilities in South India. The two new centres in southern India will focus on delivering domain intensive and differentiated technology capabilities to clients in the banking and financial services. The company also plans to aggressively drive its business by investing $30-35 million on India expansion over the next three years.
The company plans to ramp up expansion to 225 employees in Bengaluru and 150 employees in Hyderabad over the current fiscal year. This will contribute to the company’s total workforce of 5000+ professionals out of which 3800 are based in Pune.
Speaking on the occasion, Faisal Husain, Co-Founder and CEO, Synechron stated, “Our expansion drive is in line with our strategy to increase our delivery capabilities in India giving Synechron access to a larger and highly capable talent pool. The infusion of skills from these centres will enable us to develop solutions for our global and India customers and lend further cadence to our delivery credentials.”
The Bengaluru and Hyderabad centres complement Synechron’s recently inaugurated state-of-the-art eco-friendly facility in Pune. The company has been growing at a CAGR rate of over 35% for the past six years to become a USD $200mn annualized revenue entity. It has emerged as amongst the fastest growing technology consulting companies providing technology, consulting services with a micro verticalized focus in Capital Markets, Insurance, Mortgage Banking, Energy and Commodities, and Digital Media.
Synechron, founded in 2001, is globally a 5000+ professionals company, headquartered in New York. It has presence across the US, Canada, UK, The Netherlands, UAE, Japan, Hong Kong, Singapore, and state-of-the-art Development Centers based in Pune, Bengaluru and Hyderabad, India. Synechron specializes in Banking, Insurance and Financial Technology services and itsvalue proposition lies in its global delivery model, harnessing industry expertise from established markets such as New York, London and Tokyo with complementing technical edge through its development centers in India. For more information visit www.synechron.com