GlobalLogic

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GlobalLogic
Company typeSubsidiary
IndustrySoftware development
Founded2000
HeadquartersSanta Clara, California
Key people
Nitesh Banga (CEO), Vaibhav Sharma (CFO), Arya Barirani (CMO), Zaheer Allam (CCO), Jim Walsh (CTO)
RevenueUSD $850M+[citation needed]
Number of employees
30,000+[1]
ParentHitachi
WebsiteOfficial website

GlobalLogic is an Indian digital services company providing software product design and development services. It is an independent subsidiary[2] of Hitachi Ltd.[3][4][5][6] GlobalLogic has corporate headquarters in San Jose, California.[7]

Company overview[edit]

Early history[edit]

GlobalLogic got its start in 2000 as Induslogic in India, a provider of outsourced software and product development services. Induslogic maintained a service delivery center in Noida. Peter Harrison was appointed CEO in 2001 and Vasudev Bhandarkar joined the board in 2004.[8]

In 2006, Induslogic merged with Bonus Technology to form GlobalLogic, a new global product development services company.[9]

The same year, the company received Series B venture round funding of $12.5M from Sequoia Capital and New Enterprise Associates in 2006[10] and acquired Lambent Technologies, an offshore software R&D services firm based in Nagpur, India.[11]

2008–2013[edit]

In 2008, GlobalLogic opened offices in London, naming Mike Daniels as chairman of the board and hiring Shashank Samant as president. The same year, it acquired U.S.-based Validio Software and its Ukraine-based development center. Also, in 2008, the company received $29.5M in Series C venture round funding from Sequoia Capital, New Atlantic Ventures, and New Enterprise Associates.[12] In 2009, GlobalLogic partnered with LumenData, a product development and services firm focused on enterprise data management, to open a delivery center in Bangalore.[13] GlobalLogic also acquired two software R&D services firms: InterObject and Cubika. InterObject, based in Ramat Gan, Israel, works with embedded software, mobile and streaming media products.[14] Cubika, based in Buenos Aires, Argentina, builds software products for the media, entertainment, telecom and finance markets.[15] In 2010, GlobalLogic received funding from Goldman Sachs.[16]

In 2011, GlobalLogic opened an office in Santiago, Chile to expand its operations in South America.[17] It then acquired Rofous Software, a content engineering firm headquartered in Hyderabad, India with specialization in content engineering.[18] The same year, GlobalLogic acquired Method Incorporated, a brand experience agency with offices in San Francisco, New York City and London.[19]

In 2012, CEO Peter Harrison became vice chairman and its president, Shashank Samant, was appointed CEO.[20]

In 2013, Apax Partners ("Apax"), a global private equity firm, acquired GlobalLogic. Rohan Haldea, Walden Rhines and Peter Bonfield joined the company's board of directors, and Salim Nathoo was named chairman.[21]

2014–2021[edit]

In 2014, GlobalLogic hired Zaheer Allam as chief delivery officer[22] and opened new delivery centers in Nagpur, India[23] and Kosice, Slovakia.[24] In 2015, the company opened a delivery center in Kraków, Poland.[25] In 2016, Peter Bonfield took over the role of board chairman.[26] The same year, GlobalLogic acquired REC Global, a Poland-based software development provider specializing in embedded technologies.[27]

In 2017, the Canadian Pension Plan Investment Board (CPPIB) acquired 48% of GlobalLogic from Apax.[28][29]

In 2018, Apax Partners sold its remaining 48% stake private equity firm Partners Group,.[30]

In 2019, GlobalLogic acquired U.S.-based Skookum, a digital strategy and design firm.

In 2020, GlobalLogic appointed Rajaram Radhakrishnan as chief revenue officer.[31] The same year, GlobalLogic partnered with SimCorp to change the cloud delivery model for the SimCorp Dimension platform.[32] GlobalLogic then acquired Meelogic Consulting AG, a Berlin-based healthcare and automotive-focused software engineering firm. Next it acquired the ECS Group, a UK-based digital transformation consultancy.[33]

On March 31, 2021, Hitachi announced that it would buy GlobalLogic for $9.6 billion.[34][35] The acquisition was completed on July 14, 2021.[36] Under the terms of merger, Globalogic will continue to operate as an independent subsidiary.[37]

2022–2023[edit]

In December 2023, GlobalLogic acquired Katzion, an Australia-based engineering firm specializing in applications for the automotive industry, for an undisclosed amount.[38]

OpenStreetMap Foundation 2018 elections incident[edit]

During the 2018 board elections of the OpenStreetMap Foundation, more than 100 individuals registered from the same IP address within a few hours. The signups were flagged immediately as suspicious but were not rejected by the OSMF board,[39] because they were received after the deadline and so were not eligible to vote. Those voting to keep the memberships stated that there was no assumption of ill intent.[40]

The OpenStreetMap Membership Working Group released a public report[41] indicating a large group of signups from GlobalLogic.

GlobalLogic then offered to withdraw the memberships, and the OSMF board accepted the offer as resolution in February 2019.[42][43]

References[edit]

  1. ^ "Hitachi to buy U.S. software developer GlobalLogic for $9.6 billion". Reuters. 31 March 2021. Archived from the original on 2022-04-11.
  2. ^ "Hitachi's Software Team in India Grows to 15,000 with Globallogic Acquisition".
  3. ^ "Partners Group to Acquire GlobalLogic Stake from Apax Partners". Bloomberg.com. 21 May 2018.
  4. ^ Pm, Indulal; Mendonca, Jochelle. "Apax Partners sells 48% of GlobalLogic to CPPIB in $1.5 billion deal". The Economic Times.
  5. ^ "What Does Hitachi's $9.6 Billion Acquisition of GlobalLogic Tell Us? It's a Software-Driven World". Forbes. Archived from the original on March 31, 2021.
  6. ^ "Japan's Hitachi acquires GlobalLogic for $9.6 billion". ABC News.
  7. ^ "GlobalLogic to acquire Indian firm". The Hans India. 2016-09-27. Retrieved 2018-05-24.
  8. ^ N Shivapriya (October 10, 2013). "IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore". The Economic Times. Retrieved July 27, 2021.
  9. ^ "Induslogic and Bonus Technology Merge". 22 September 2006.
  10. ^ "GlobalLogic Engineering Product Dreams".
  11. ^ "GlobalLogic Invests in India". Archived from the original on 17 April 2016.
  12. ^ "GlobalLogic Raises $29.5M for Offshore Software Development". 2008-02-09.
  13. ^ "LumenData, GlobalLogic to Expand Ops". Business Standard India. 2009-03-25.
  14. ^ "GlobalLogic Enters Israeli Software Market". Reuters.[dead link]
  15. ^ "GlobalLogic and Cubika Join Forces". Business Standard India. 2010-02-22.
  16. ^ "Goldman Sachs Invests in GlobalLogic". Reuters. 2010-04-16.
  17. ^ "GlobalLogic Opens Offices in Chile". Archived from the original on 2015-09-08. Retrieved 2016-01-18.
  18. ^ "GlobalLogic and Rofous Software Join Forces". Archived from the original on 19 March 2020.
  19. ^ "GlobalLogic Acquires Method".
  20. ^ "GlobalLogic Announces Shashank Samant as New CEO | GLobalLogic Latinoamerica". GLobalLogic Latinoamerica (in Spanish). 2012-05-02. Retrieved 2017-11-06.
  21. ^ "Apax Partners' Funds to Acquire GlobalLogic" (Press release).
  22. ^ "GlobalLogic Continues Leadership Momentum with Hire of Zaheer Allam" (Press release).
  23. ^ "GlobalLogic Opens New Centre in India". Archived from the original on 2014-12-22. Retrieved 2014-12-22.
  24. ^ "GlobalLogic Opens a New Office in Europe".
  25. ^ "GlobalLogic Establishes New Engineering Center in Poland" (Press release).
  26. ^ "GlobalLogic Acquires REC Global" (Press release).
  27. ^ "GlobalLogic festigt durch Übernahme von REC Global seine Präsenz in Europa". digital-magazin.de. 21 January 2016.
  28. ^ "BRIEF-Canada Pension Plan Investment board to acquire an approximate 48 pct stake in Globallogic". Reuters. 11 January 2017.
  29. ^ "Canada Pension Plan Investment Board to Acquire an Approximate 48 Percent Stake in GlobalLogic Inc. From Apax Funds". 2017-01-11.
  30. ^ "Partners Group to Acquire GlobalLogic Stake From Apax Partners". Bloomberg.com. Retrieved 2018-07-12.
  31. ^ "GlobalLogic Appoints Industry Veteran Rajaram Radhakrishnan as Chief Revenue Officer". Yahoo Finance. Archived from the original on 2021-05-15. Retrieved 2021-05-15.
  32. ^ "SimCorp Partners with GlobalLogic to Boost Investment Management Services with Cloud Transformation". finance.yahoo.com. Retrieved 2020-03-05.
  33. ^ "GlobalLogic acquires UK-based ECS Group". The Economic Times.
  34. ^ "Japan's Hitachi acquires GlobalLogic for $9.6 billion". ABC News. 2021-03-31.
  35. ^ "Remember Hitachi? It's a Software Company Now". The Wall Street Journal. 2021-03-31.
  36. ^ "Hitachi Completes Acquisition of GlobalLogic". PR Newswire. 2021-07-13.
  37. ^ "Hitachi's Software Team in India Grows to 15,000 with Globallogic Acquisition".
  38. ^ "Leading Ukrainian IT company GlobalLogic acquires Australia's Katzion". Yahoo Finance. 2023-12-13. Retrieved 2023-12-13.
  39. ^ Jon Russel (2018-12-19). "Grab is messing up the world's largest mapping community's data in Southeast Asia". TechCrunch. membership requests for "more than 100 applicants" from GlobalLogic
  40. ^ "[Osmf-talk] Board decision on recent OSMF membership registrations". 24 November 2018.
  41. ^ "Investigation into the Unusual Signups" (PDF).
  42. ^ "100 new OSMF membership accounts on 2018.11.15 - OpenStreetMap Foundation".
  43. ^ "Board/Minutes/2019-02-20 - OpenStreetMap Foundation".
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