CSC acquires Applabs

Applabs valued above USD 300 million: Sources

PTI | September 15, 2011



The US-based IT firm CSC today said it acquired Applabs Technologies, a city-based software testing company.

Though both the companies have not disclosed the financials of the deal, sources close to the development said Applabs was valued above USD 300 million.

Promoters of Applabs hold 40 per cent stake, private equity firm Westbridge Capital holds 50 per cent and employees hold 10 per cent, Applabs Founder and Chief Executive Officer Shashi Reddy told media persons here.

"WestBridge, which had invested USD 20 million in three rounds, was looking for an exit option and that led us to sell our stake also," Reddy said.

CSC has approximately 92,000 employees across the globe with a large presence in India. The company has revenues of over USD 16 billion.

"Testing services is currently pegged at USD13 billion and is poised to grow at 20 per cent to 2013. With the Applabs acquisition we expect to grow at 20 per cent in terms of number of employees," CSC chief executive officer Michael W Laphen said.

Applabs has an employee base of 2,500 spread across India, he USA and the UK. Its key clients include American Airlines, Experian, JP Morgan, VocaLink and National Australia Bank.

According to Applabs website, Reddy has started two other companies prior to AppLabs. His first company was EZPower Systems, a developer of products for building and maintaining large-scale web applications. EZPower was acquired by DocuCorp and then eventually by Oracle.

Following EZPower, Sashi founded iCoop, a Dotcom Company that went bust. He is also the founder and chairman of FXLabs, a leading developer of high quality game products for PCs, console and online.

 

Comments

 

Other News

Income Tax dept holds Ghatkopar Outreach on new IT Act

The Income Tax Department organised an outreach programme in Ghatkopar, Mumbai, to raise awareness about the key features of the Income Tax Act, 2025, effective April 1, 2026. The initiative is part of a nationwide effort to promote taxpayer awareness, simplify compliance, and strengthen a transparent, eff

Making AI work where governance is closest to people

India’s next governance leap may not solely come from digitisation. It will come from making public systems more intelligent, more adaptive, and more responsive to the dynamics at the grassroots. That opportunity is especially significant at the panchayat level, where governance is not an abstract po

Borrowing troubles: How small loans are quietly trapping youth

A silent crisis is playing out in the pocket of young India, not in stock markets or government treasuries, but in smartphones of college students and first-jobbers who clicked on the Apply Now button without reading the small print.  A decade ago, to take a loan, you had to do some paperwor

A 19th-century pilgrim’s progress

The Travels of a Sadhu in the Himalayas By Jaladhar Sen (Translated by Somdatta Mandal) Speaking Tiger Books, 259 pages, ₹499.00  

India faces critical shortage of skin donors amid rising burn cases

India reports nearly 70 lakh burn injury cases every year, resulting in approximately 1.4 lakh deaths annually. Experts estimate that up to 50% of these lives could be saved with adequate access to skin donations.   A significant concern is that around 70% of burn victims fall wi

Not just politics, let`s discuss policies too

Why public policy matters Most days, India`s loudest debates stop at the ballot box. We can name every major leader and recall every campaign slogan. Still, far fewer of us can explain why a widow`s pension is delayed or how a government school`s budget is actually approved. That


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter