GlobalLogic to acquire another company

NAGPUR: GlobalLogic plans to hit the US capital markets in mid-2011. The company has a turnover of $140 million that it plans to take to $200 million with a profit of $20 million. At that point it would be comfortable to go for an IPO. GlobalLogic expects to achieve the target by next year. The company is looking to generate significant revenue from Asia that it considers a growth centre. Apart from Lambent in India, GlobalLogic had also made acquisitions in Ukraine, Argentina and China, said Grubbs. There were plans of another acquisition in India that would be announced soon, he said. It also planned to increase its business from unitsoutside the US to 30% from 20% at present of which a chunk would come fromAsia-Pacific region, said Shashikant Chaudhary, vice-president of company`stelecom and embedded business unit.