San Jose-based GlobalLogic Looks Forward to Active Acquisitions
San Jose-based GlobalLogic, an engineering services company has reported that it will now actively look forward to acquisitions in cybersecurity, retail, medtech and automotive sector. The idea behind this is to grow to a $2 billion business in the next five years.
The IT outsourcing firm is on track to clock $650 million in revenue for the current fiscal and is growing at over 24% organically. In the current fiscal, the company recorded 5 percent sequential growth in the first two quarters of the current fiscal.
“Organically at 23-25% organic growth, I can achieve the $1 billion mark. I want M&A not for my numbers,” said Shashank Samant, chief executive of GlobalLogic. “At present we are working on three areas where we need to get further advantage: a security company, a company i...