GlobalLogic

Last updated
GlobalLogic
Company type Subsidiary
Industry Software development
Founded2000
Headquarters Santa Clara, California
Key people
Srinivas Shankar (CEO/President), Sumit Sood (COO), Vaibhav Sharma (CFO), Rodrigo Cofino (CSO), Zaheer Allam (CCO), Jim Walsh (CTO)
RevenueUSD $850M+[ citation needed ]
Number of employees
30,000+ [1]
Parent Hitachi
Website Official website

GlobalLogic is a digital services company providing software development services. It is a subsidiary of Hitachi. [2] [3] [4] [5] [6] GlobalLogic has corporate headquarters in San Jose, California. [7] The current CEO is Srinivas Shankar. [8]

Contents

Company overview

Early history

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. [9]

In 2006, Induslogic merged with Bonus Technology to form GlobalLogic, a new global product development services company. [10]

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

2008–2013

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

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, GlobalLogic will continue to operate as an independent subsidiary. [37]

2022–2023

In November 2022, GlobalLogic acquired Fortech, a software engineering services company based in Romania. [38]

In December 2023, GlobalLogic acquired Katzion, an Australia-based engineering firm specializing in applications for the automotive industry, for an undisclosed amount. [39]

2025

On February 3, 2025, Srinivas Shankar became the new CEO and President of GlobalLogic, after previous CEO Nitesh Banga stepped down from this position. [40]



OpenStreetMap Foundation 2018 elections incident

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, [41] 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. [42]

The OpenStreetMap Membership Working Group released a public report [43] 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. [44] [45]

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References

  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". Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  3. ↑ "Partners Group to Acquire GlobalLogic Stake from Apax Partners". Bloomberg.com. 21 May 2018. Archived from the original on 2018-05-30. Retrieved 2018-07-12.
  4. ↑ Pm, Indulal; Mendonca, Jochelle. "Apax Partners sells 48% of GlobalLogic to CPPIB in $1.5 billion deal". The Economic Times. Archived from the original on 2018-01-14. Retrieved 2021-04-28.
  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 . Archived from the original on 2021-07-30. Retrieved 2021-07-30.
  7. ↑ "GlobalLogic to acquire Indian firm". The Hans India. 2016-09-27. Archived from the original on 2018-05-24. Retrieved 2018-05-24.
  8. ↑ "GlobalLogic Announces Leadership Change: Srini Shankar Appointed as President and Chief Executive Officer". GlobalLogic . 10 January 2025. Retrieved 4 February 2025.
  9. ↑ N Shivapriya (October 10, 2013). "IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore". The Economic Times. Archived from the original on July 27, 2021. Retrieved July 27, 2021.
  10. ↑ "Induslogic and Bonus Technology Merge". 22 September 2006.
  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. Archived from the original on 2016-12-23. Retrieved 2017-08-31.
  13. ↑ "LumenData, GlobalLogic to Expand Ops". Business Standard India. 2009-03-25. Archived from the original on 2017-02-09. Retrieved 2016-01-18.
  14. ↑ "GlobalLogic Enters Israeli Software Market". Reuters .[ dead link ]
  15. ↑ "GlobalLogic and Cubika Join Forces". Business Standard India. 2010-02-22. Archived from the original on 2017-08-22. Retrieved 2016-01-18.
  16. ↑ "Goldman Sachs Invests in GlobalLogic". Reuters. 2010-04-16. Archived from the original on 2016-03-06. Retrieved 2016-01-18.
  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". Archived from the original on 2017-11-07. Retrieved 2017-01-15.
  20. ↑ "GlobalLogic Announces Shashank Samant as New CEO | GLobalLogic Latinoamerica". GLobalLogic Latinoamerica (in Spanish). 2012-05-02. Archived from the original on 2017-11-07. Retrieved 2017-11-06.
  21. ↑ "Apax Partners' Funds to Acquire GlobalLogic" (Press release). Archived from the original on 2016-01-15. Retrieved 2016-01-18.
  22. ↑ "GlobalLogic Continues Leadership Momentum with Hire of Zaheer Allam" (Press release). Archived from the original on 2014-12-22. Retrieved 2014-12-22.
  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". Archived from the original on 2017-10-27. Retrieved 2016-01-18.
  25. ↑ "GlobalLogic Establishes New Engineering Center in Poland" (Press release). Archived from the original on 2016-06-01. Retrieved 2016-01-18.
  26. ↑ "GlobalLogic Acquires REC Global" (Press release). Archived from the original on 2016-01-16. Retrieved 2016-01-18.
  27. ↑ "GlobalLogic festigt durch Übernahme von REC Global seine Präsenz in Europa". digital-magazin.de. 21 January 2016. Archived from the original on 15 May 2021. Retrieved 15 May 2021.
  28. ↑ "BRIEF-Canada Pension Plan Investment board to acquire an approximate 48 pct stake in Globallogic". Reuters. 11 January 2017. Archived from the original on 15 May 2021. Retrieved 15 May 2021.
  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. Archived from the original on 2018-05-30. 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. Archived from the original on 2021-04-14. Retrieved 2021-05-15.
  34. ↑ "Japan's Hitachi acquires GlobalLogic for $9.6 billion". ABC News. 2021-03-31. Archived from the original on 2021-03-31. Retrieved 2021-03-31.
  35. ↑ "Remember Hitachi? It's a Software Company Now". The Wall Street Journal. 2021-03-31. Archived from the original on 2021-04-28. Retrieved 2021-03-31.
  36. ↑ "Hitachi Completes Acquisition of GlobalLogic". PR Newswire. 2021-07-13. Archived from the original on 2021-07-15. Retrieved 2021-07-15.
  37. ↑ "Hitachi's Software Team in India Grows to 15,000 with Globallogic Acquisition". Archived from the original on 2021-10-27. Retrieved 2021-10-27.
  38. ↑ "GlobalLogic Acquires Fortech, a Leading Digital Engineering Company Based in Romania". GlobalLogic. 2022-11-21. Retrieved 2024-07-11.
  39. ↑ "Leading Ukrainian IT company GlobalLogic acquires Australia's Katzion". Yahoo Finance. 2023-12-13. Archived from the original on 2023-12-13. Retrieved 2023-12-13.
  40. ↑ "GlobalLogic Announces Leadership Change: Srini Shankar Appointed as President and Chief Executive Officer". GlobalLogic . 10 January 2025. Retrieved 10 January 2025.
  41. ↑ Jon Russel (2018-12-19). "Grab is messing up the world's largest mapping community's data in Southeast Asia". TechCrunch. Archived from the original on 2019-01-28. Retrieved 2019-01-28. membership requests for "more than 100 applicants" from GlobalLogic
  42. ↑ "[Osmf-talk] Board decision on recent OSMF membership registrations". 24 November 2018. Archived from the original on 30 July 2021. Retrieved 30 July 2021.
  43. ↑ "Investigation into the Unusual Signups" (PDF). Archived (PDF) from the original on 2019-01-26. Retrieved 2019-01-27.
  44. ↑ "100 new OSMF membership accounts on 2018.11.15 - OpenStreetMap Foundation". Archived from the original on 2021-07-30. Retrieved 2021-07-30.
  45. ↑ "Board/Minutes/2019-02-20 - OpenStreetMap Foundation". Archived from the original on 2021-07-30. Retrieved 2021-07-30.
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