GlobalLogic, a global product-development company, has acquired Validio Software, a U.S.A.-based software-development company with development center in Ukraine. The acquisition not only expands GlobalLogic’s presence into Ukraine, but it also adds to the company’s pool of software R&D engineers. The acquisition increases GlobalLogic’s headcount to 3,000.
“We have done two acquisitions in the recent past and the most recent being the acquisition of Validio. I am proud to announced that we are now the largest software employer in Ukraine,” says Peter Harrison, CEO, GlobalLogic.
The company revealed that it has kept a kitty of $30 million aside for acquisitions this year. GlobalLogic’s acquisitions will comprise a third each of cash, equity, and performance components. The company’s next target countries are India and China, but all future acquisitions will only be focused toward small product-development companies. However, the company will be looking at different product-development sectors.
“[GlobalLogic] will look at only those product development companies that are 10 to 20 percent of our size, because that makes the integration easier with investments,” adds Harrison. “This is just a strategy to achieve our target of increasing our headcount, which is presently 3,000 with this recent acquisition, to 10,000 by 2010.”
With this acquisition, GlobalLogic aims to expand its ability to provide full product life-cycle development services on .NET while Validio Software’s clients will be benefited by GlobalLogic’s various services, including its new Version 1.0 services launched on Feb. 7th, 2008. With the launch of this new offering, GlobalLogic becomes an engineering-to-business company from engineering-to-engineering.
“At present, the company is offering these new services to new clients while it also provides such services to the existing partners as well,” says Sachin Saxena, VP, New Venture Services. “For the purpose, we are grooming our internal staff to take on more responsibilities.”
Version 1.0 enables GlobalLogic to provide product or service conceptualization and software development services, along with a dedicated executive advisor and access to an ecosystem of potential clients, partners and investors. The service is aimed at early-stage software start-ups who need help turning an idea into a market-ready product, and new ventures within more established companies who need to operate at start-up speed. Version 1.0 will enable these companies to design, build and launch software products without any internal engineering staff.
