"Outsourced product development is a bright spot in the broader outsourcing industry. Technology companies may hold off on internal IT projects during tough times, but they can't delay bringing new revenue-generating products to market if they want to stay competitive," Harrison said. "Interest in our specialty services, full lifecycle software product engineering, is at an all-time high because we help generate revenue. The OPD market is experiencing a surge on par with the boom outsourcers of IT services experienced in the late '90s, as companies raced to update their systems for the year 2000."
The global market for product research, development and support, a key market segment for GlobalLogic, is expected to grow at a compound annual growth rate of 23 percent until 2012, according to Zinnov Management Consulting. GlobalLogic expects to more than double its staff in India, to 5,000 over the next three years, to help meet demand.
"If there is a silver lining in this economy, it is that businesses are taking fiscal responsibility very seriously. We expect OPD to continue to grow as more product companies seek out specialist partners with a broad presence in global product engineering centers in India, China and Eastern Europe ( http://www.globallogic.com/aboutus/our-locations.shtml) to help them innovate, as opposed to taking the risk of starting their own captive operation in a region where they have little experience," Harrison said.
GlobalLogic ended its second fiscal quarter in a strong position this September. Its second quarter achievements include:
-- 25 new clients, representing mobile, healthcare, consumer and enterprise software products -- Revenue exceeded $100 million for the first time, with a 40 percent increase during the first two quarters of the year -- Employee headcount grew nearly 20 percent, exceeding 3,000 worldwide -- Expansion in Ukraine, where GlobalLogic is already the largest technology employer -- Acquisition in Israel, bolstering the company's embedded and mobile software capabilities -- Executive team additions, including the company's new president, Shashank Samant, formerly with IBM and Hewlett-Packard
In contrast to many firms that focus on IT services, GlobalLogic specializes in software product research and development (R&D) for emerging and established technology companies. Its services include market analysis, product conceptualization, engineering, migration, testing and support. The company has received widespread recognition for innovation in software product R&D. Its platform for distributed Agile development, GlobalLogic Velocity, has been recognized by InfoWorld for technology innovation with an InfoWorld 100 Award ( http://www.globallogic.com/indus_diff/velocity_overview.shtml). GlobalLogic Version 1.0(SM), an offering for both early and late stage companies, has helped the company's clients launch disruptive technologies at major conferences such as DEMOfall 08 ( http://www.globallogic.com/focusareas/ver_engagement.shtml).
The leading specialist in global software product development services, GlobalLogic, Inc., partners with emerging and established technology companies to help them bring great software products to market in less time and at less cost. GlobalLogic has ongoing partnerships with nearly 200 technology companies in product vertical markets that include consumer, telecom, healthcare and enterprise. Over the last eight years, GlobalLogic has helped its clients release 2,000 software products, including more than 300 major products in the last 12 months with a better than 95 percent on-time delivery record. Its clients include innovative technology companies such as Autodesk, Broadsoft, Electronic Arts, Intalio, Motorola, NextPoint, Oracle, Vertica, and Yahoo. GlobalLogic, an Inc. 500 company, has been ranked as a top employer in India and Ukraine by IDC and Hewitt Associates respectively. GlobalLogic is headquartered in Vienna, Virginia and has European headquarters in London, U.K. with global delivery centers throughout the U.S., India, Ukraine, China, and Israel. GlobalLogic employs thousands of technology professionals worldwide.
Media Contact: Liz Haas Atomic PR for GlobalLogic 415.402.0230 gl (at) atomicpr.com