GlobalLogic sets sight on USD1bn revenue target by 2020


Global IT outsourcing firm GlobalLogic said it is on track to achieve the USD1bn revenue target by 2020 after exceeding USD550m in 2017. CEO Shashank Samant said the company is growing at 20% to 24% organically for the past two years and continues to expand its gross margin. The company is one of the larger players in the engineering services sector and has acquired eight companies since its inception. In 2017, they hired merger and acquisition specialist Jonathan Rothenberg to double the number of acquisitions in the next three years. The company has also said that it intends to buyout more than one firm in its drive to become a USD1bn firm by 2020.