Cambridge Solutions expands India operations

Bangalore-based software services and solutions firm Cambridge Solutions announced the expansion of its Indian operations with the set-up of a development centre in Chennai. The facility will augment the work being done by Cambridge Solutions at its existing facilities in Chennai, Bangalore and Pune. This facility will employ 200 skilled resources and dedicated training facility.

With this expansion, it now has a capacity of around 800 seats in Chennai and a total capacity of over 1,400 seats in India.

“The new centre will meet the growing requirements of our customers in the banking and financial services markets, besides housing some technology practices,” said M R Ravichandran chief delivery officer - ITO Division, Cambridge Solutions. The company said that this will further strengthen their global delivery model.

The company’s board of directors, a few months back, had also approved to raise $40 million (around Rs 160 crore) through a FCCB/GDRs including a green shoe option of $10 million (around Rs 40 crore) in international markets for its expansion.