Logica to Expand Indian Operations
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London-based software products and services company Logica Plc is planning to expand its Indian subsidiary in Bangalore, and make it the center for Logica's worldwide banking products development.
"The initial development in India will concentrate on financial products and services," said Hamish Harding, managing director of Logica India. "Later, products from other sectors will be phased in for development based on market opportunities," he added.
With regard to banking software development, the retail banking segments have already been relocated to Bangalore, with the other segments in the process of being moved to the city.
Work on some of Logica's products in sectors such as telecommunications, distribution, transport, and energy will also be gradually moved to Bangalore in a phased manner.
"Logica, which has built a substantial product development center in India, recognizes that the availability of highly-educated, professional and skilled software engineers in India provides a unique, economically competitive business opportunity," said Harding.
Logica's Indian operations got a major boost after it acquired Synectics, a Bangalore-based company that developed the Quaestor retail banking solution in 1996, and won a global contract with a bank in the Middle East. Quaestor is now Logica's flagship brand.
The company, whose payment systems are used by more than 150 banks and employs over 10,000 people in 24 countries around the world, has invested about US$3.5 million in its Indian operations so far.