The country’s second largest IT services exporter, Infosys, is set to hire up to 1,000 engineers in FY16 as it ramps up its product business, which is targeted to exceed $1 billion in revenue by 2020.
This is part of Infosys’ targeted $20 billion in revenue by 2020, a target set by CEO and Managing Director Vishal Sikka this April, which is more than double its current revenue of $8.83 billion.
On whether the Product’s business can be achieved, Sanchit Vir Gogia, Chief Analyst and CEO, Greyhound Research, said, “Infosys can achieve this only if it adopts an inorganic strategy to aggressively go after acqui-hires, in order to get access to A-class software developers.
“These are typically struggling product start-ups with an average team size of 15-20 engineers, who are creating product IP and haven’t been able to go beyond Angel or Series A funding.”
Source: Hindu Business Line