iGATE plans to hire 500 more in next 2 quarters
Date: 15-Apr-2010
NEW DELHI: IT services company iGATE on Wednesday said it will hire 500 professionals in the next two quarters to support its expanding operations.
“Most of the 500 people we plan to hire in over the next six months will be in India and some in Mexico and the US. They will be employed in both services in BPO areas,” said iGATE CEO Phaneesh Murthy.
The Nasdaq-listed company, which has been planning acquisitions in $30-70 million range for some time, is hopeful making it in 2010. “We are aggressively pursuing it ... We have $100 million cash on our balance sheet. We are eyeing acquisitions in $30-70 million range and we should finalise it in few months,” he said.
The company is looking at healthcare and financial BPO services. “There is a large pent-up demand ... I think the bigger recovery is in the financial services,” he added.
iGATE said its net income more than doubled to $11.6 million for the January-March quarter compared to $5 million registered in the year ago period. Revenue was up 29% at $57.9 million for the quarter ended March 31, 2010, from $44.8 million last year.
Posted By : Neha Chaturvedi
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