Vertex Software to announce rapid growth post stake sale to Japan’s NTT Data Corporation
(Business News, 18 Jun 2008 )
Pune-based Vertex Software is perhaps the largest Indian SME in the Japanese software market, with 50% share of its software business coming from Japan. It provides software to several Fortune customers in Japan and US with specialization in the field of e-Business applications, mobile technologies and product outsourcing space.
Last November Vertex Software announced a 68.7% stake sale by its promoters to NTT DATA Corporation (“NTT DATA”), which is a 9 billion USD software giant and Japan’s largest IT services company. NTT DATA which has operations in Japan, US, Europe and China and now has a footprint in India through Vertex Software.
Shinichi Yamada, CTO of NTT DATA recently inaugurated the new facility of Vertex Software located at AundhThe new office is planned to be about 35,000sqft, and can house 360 people. This is a major expansion for Vertex Software with an investment of over 1.5 million USD (Rs.6 Crores).
Vertex Software plans to grow from the current 250 employees to about 400 in the current year, with its sales growing from 8 million USD to 12.5 million USD, a growth of more than 50%. “We plan to sustain a growth rate of around 50% for the next 3 years and we are targeting a sales revenue of 35 million USD (Rs.140 Crores) by 2011”, says Nitin Datar, President, Japan Operations. “Japan will be a key focus area for us, as it happens to be the 2nd largest software market in the world and holds a huge untapped potential. Vertex Software is well-poised to exploit the Japanese market. We are expanding our Japanese in house training programs this year and already have 40% of our 250 employees trained in Japanese” adds Datar.
