This means it will move to a horizontal-led approach to business, focusing on specific capabilities, from its earlier specialization on verticals.
Pune-headquartered Cybage is expanding towards enterprise services after focusing on being a product engineering firm for over two decades.
“We’ve always had a heavy focus on product engineering, but are now moving more to cracking the enterprise segment by meeting their digital transformation needs,” said Arun Nathani, CEO, Cybage.
The company was investing heavily in making this transition to provide consulting services to customers, Nathani said.
Last year, Cybage grew at about 17% and the company expects to grow at a similar pace in the ongoing fiscal year, he said.
So far, the growth has been organic, but it was now actively scouting for acquisition opportunities in the $10-$30 million range, he added.
“We need to find the right synergies, either be able to enter a new market or sell to their customer base or get access to skills they’ve built,” Nathani said.
The company is working with a boutique firm in the United States to scout for opportunities and expects to close a deal within the next few months.
The business model pivot means it will need a larger presence closer to customers, mainly in the US.
The company, which had operated on a primarily offsite delivery model, recently set up a centre in Canada.
“Expanding in the US is not a big part of our strategy, we will rely on a more partner-driven model with some nearshore capabilities,” said Nathani.
Over the past year, the company has put together a new top team in the US, which accounts for 80% of its total revenues.
Avi Lele, President, Cybage, who is working on a strategic roadmap for the business, said the focus now is on finding white spaces in the product engineering segment, and help make the transition to selling to enterprises.
“From only chief information officers, we are now working more with the chief marketing officers of companies, as a large portion of the tech spend is controlled by them,” he said.
Additionally, Cybage has also brought on John Oberon, who was earlier with Cisco, as chief technology officer.
“A lot of the transformation projects are happening in consumer-focused businesses and at the front end, which is why the CMO is in focus,” Oberon said.
The company recently implemented a social media solution for a large enterprise in Australia, after which it has gone on to develop an e-commerce site for it as well.
You can read the original article in the Economic Times portal: https://tech.economictimes.indiatimes.com/news/corporate/pune-based-cybage-expands-towards-services/72777678