Globsyn Technologies is shifting its software and technology division from the city to Chennai.
Globsyn Technologies Ltd plans to merge all its business units, except the education one, with the Chennai-based Synergy Log-In Systems Ltd, a specialist in banking and financial software.
Globsyn had bought 41% stake in Synergy in January 2006, which resulted in its management control. “In Calcutta, Globsyn Technologies Ltd is facing a problem in recruiting middle management people for their software division. In Chennai, there are a lot of middle-level companies from where Globsyn Technologies Ltd can recruit. Calcutta will remain the face of our education and training operations, while Chennai will be our software headquarters,†said Bikram Dasgupta, chairman and CEO of Globsyn Technologies.
The Chennai office will have its own top management and will spread over 10,000 sq ft. The company is also looking for another 20,000 sq ft space. Globsyn has recently acquired Synergy Log-In, a banking and financial services vendor in Chennai, which employs 100 people.
The company also plans to acquire another software services firm based in Chennai, which earns a turnover of Rs 40 crore, employs 350 people and has subsidiaries in the US. Globsyn is likely to take a call on the acquisition by June. The decision to shift the software division to Chennai was partly based on these buyouts.
The company is restructuring its IT and software division into a separate company called Globsyn Infotech. Globsyn Infotech will be a listed entity comprising newly acquired Synergy Log-In and Globsyn Knowledge Foundation, which would continue to operate as a trust for the education and training business.
“We are in the process of reassessing our organisation valuation and plan to hire management personnel in the two divisions,†Dasgupta said.
Globsyn plans to ramp up employee strength in its software division to 600 by the end of this year. It is also considering acquiring a training company based in London, which will provide Globsyn Knowledge with a base to expand in Europe.
