GlobalLogic explained

GlobalLogic
Type:Subsidiary
Foundation:2000
Location:Santa Clara, California
Key People:Nitesh Banga (CEO), Sumit Sood (COO), Srini Sankar (CRO),Vaibhav Sharma (CFO), Rodrigo Cofino (CSO), Zaheer Allam (CCO), Jim Walsh (CTO)
Industry:Software development
Revenue:USD $850M+
Num Employees:30,000+[1]
Parent:Hitachi

GlobalLogic is an American 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]

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.[8]

In 2006, Induslogic merged with Bonus Technology to form GlobalLogic, a new global product development services company.[9]

The same year, the company received Series B venture round funding of $12.5M from Sequoia Capital and New Enterprise Associates in 2006 and acquired Lambent Technologies, an offshore software R&D services firm based in Nagpur, India.[10]

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.[11] In 2009, GlobalLogic partnered with LumenData, a product development and services firm focused on enterprise data management, to open a delivery center in Bangalore.[12] 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.[13] Cubika, based in Buenos Aires, Argentina, builds software products for the media, entertainment, telecom and finance markets.[14] In 2010, GlobalLogic received funding from Goldman Sachs.[15]

In 2011, GlobalLogic opened an office in Santiago, Chile to expand its operations in South America.[16] It then acquired Rofous Software, a content engineering firm headquartered in Hyderabad, India with specialization in content engineering.[17] The same year, GlobalLogic acquired Method Incorporated, a brand experience agency with offices in San Francisco, New York City and London.[18]

In 2012, CEO Peter Harrison became vice chairman and its president, Shashank Samant, was appointed CEO.[19]

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.[20]

2014–2021

In 2014, GlobalLogic hired Zaheer Allam as chief delivery officer[21] and opened new delivery centers in Nagpur, India[22] and Kosice, Slovakia.[23] In 2015, the company opened a delivery center in Kraków, Poland.[24] In 2016, Peter Bonfield took over the role of board chairman.[25] The same year, GlobalLogic acquired REC Global, a Poland-based software development provider specializing in embedded technologies.[26]

In 2017, the Canadian Pension Plan Investment Board (CPPIB) acquired 48% of GlobalLogic from Apax.[27] [28]

In 2018, Apax Partners sold its remaining 48% stake private equity firm Partners Group,.[29]

In 2019, GlobalLogic acquired U.S.-based Skookum, a digital strategy and design firm.

In 2020, GlobalLogic appointed Rajaram Radhakrishnan as chief revenue officer.[30] The same year, GlobalLogic partnered with SimCorp to change the cloud delivery model for the SimCorp Dimension platform.[31] 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.[32]

On March 31, 2021, Hitachi announced that it would buy GlobalLogic for $9.6 billion.[33] [34] The acquisition was completed on July 14, 2021.[35] Under the terms of merger, Globalogic will continue to operate as an independent subsidiary.[36]

2022–2023

In November 2022, GlobalLogic acquired Fortech, a software engineering services company based in Romania.[37]

In December 2023, GlobalLogic acquired Katzion, an Australia-based engineering firm specializing in applications for the automotive industry, for an undisclosed amount.[38]

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,[39] 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.[40]

The OpenStreetMap Membership Working Group released a public report[41] 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.[42] [43]

Notes and References

  1. News: Hitachi to buy U.S. software developer GlobalLogic for $9.6 billion . . 31 March 2021 . https://web.archive.org/web/20220411020531/https://www.reuters.com/article/us-hitachi-globallogic/hitachi-to-buy-u-s-software-developer-globallogic-for-9-6-billion-idUSKBN2BN0ED . 2022-04-11 . live .
  2. Web site: Hitachi's Software Team in India Grows to 15,000 with Globallogic Acquisition . 2021-10-27 . 2021-10-27 . https://web.archive.org/web/20211027112744/http://www.businessworld.in/article/Hitachi-s-Software-Team-In-India-Grows-To-15-000-With-Globallogic-Acquisition/15-07-2021-396685/ . live .
  3. News: Partners Group to Acquire GlobalLogic Stake from Apax Partners. Bloomberg.com. 21 May 2018. 2018-07-12. 2018-05-30. https://web.archive.org/web/20180530010234/https://www.bloomberg.com/news/articles/2018-05-21/partners-group-to-acquire-globallogic-stake-from-apax-partners. live.
  4. News: Apax Partners sells 48% of GlobalLogic to CPPIB in $1.5 billion deal. The Economic Times. Pm. Indulal. Mendonca. Jochelle. 2021-04-28. 2018-01-14. https://web.archive.org/web/20180114184339/https://economictimes.indiatimes.com/tech/ites/apax-sells-48-stake-in-it-outsourcing-firm-globallogic-to-cppib-in-1-5-bln-deal/articleshow/56480971.cms. live.
  5. Web site: What Does Hitachi's $9.6 Billion Acquisition of GlobalLogic Tell Us? It's a Software-Driven World. https://web.archive.org/web/20210331223302/https://www.forbes.com/sites/vijaygurbaxani/2021/03/31/what-does-hitachis-96b-acquisition-of-globallogic-tell-us-its-a-software-driven-world/. dead. March 31, 2021. Forbes.
  6. Web site: Japan's Hitachi acquires GlobalLogic for $9.6 billion. ABC News. 2021-07-30. 2021-07-30. https://web.archive.org/web/20210730214843/https://abcnews.go.com/Technology/wireStory/japans-hitachi-acquires-globallogic-96-billion-76784278. live.
  7. Web site: GlobalLogic to acquire Indian firm. The Hans India. en. 2018-05-24. 2016-09-27. 2018-05-24. https://web.archive.org/web/20180524151403/http://www.thehansindia.com/posts/index/Business/2016-09-27/GlobalLogic-to-acquire-Indian-firm/255945. live.
  8. News: IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore . October 10, 2013 . July 27, 2021 . The Economic Times . N Shivapriya . July 27, 2021 . https://web.archive.org/web/20210727224627/https://economictimes.indiatimes.com/tech/ites/it-outsourcing-firm-globallogic-founded-by-four-iitians-sold-for-rs-2578-crore/articleshow/23753100.cms . live .
  9. Web site: Induslogic and Bonus Technology Merge . 22 September 2006.
  10. Web site: GlobalLogic Invests in India . https://web.archive.org/web/20160417075044/http://articles.economictimes.indiatimes.com/2007-03-11/news/28413817_1_globallogic-development-centre-pune-centre . 17 April 2016 . dead.
  11. Web site: GlobalLogic Raises $29.5M for Offshore Software Development. 2008-02-09. 2017-08-31. 2016-12-23. https://web.archive.org/web/20161223110435/http://venturebeat.com/2008/02/08/globallogic-raises-295m-for-offshore-software-development/. live.
  12. News: LumenData, GlobalLogic to Expand Ops. Business Standard India. 2009-03-25. 2016-01-18. 2017-02-09. https://web.archive.org/web/20170209121838/http://www.business-standard.com/article/companies/lumendata-globallogic-to-expand-ops-109032500027_1.html. live.
  13. Web site: GlobalLogic Enters Israeli Software Market . Reuters.
  14. News: GlobalLogic and Cubika Join Forces. Business Standard India. 2010-02-22. 2016-01-18. 2017-08-22. https://web.archive.org/web/20170822215342/http://www.business-standard.com/article/press-releases/globallogic-cubika-join-forces-to-create-near-shore-r-d-innovation-powerhouse-110022200099_1.html. live.
  15. News: Goldman Sachs Invests in GlobalLogic. Reuters. 2010-04-16. 2016-01-18. 2016-03-06. https://web.archive.org/web/20160306154955/http://in.reuters.com/article/idINIndia-47758720100416. live.
  16. Web site: GlobalLogic Opens Offices in Chile . dead . 2016-01-18 . 2015-09-08 . https://web.archive.org/web/20150908004555/https://www.globallogic.com/press-releases/globallogic-opened-offices-in-chile/ .
  17. Web site: GlobalLogic and Rofous Software Join Forces . https://web.archive.org/web/20200319070303/https://finance.yahoo.com/news/GlobalLogic-and-Rofous-iw-2867139245.html . 19 March 2020. dead.
  18. Web site: GlobalLogic Acquires Method . 2017-01-15 . 2017-11-07 . https://web.archive.org/web/20171107055201/https://finance.yahoo.com/news/GlobalLogic-Acquires-Method-iw-354821188.html . live .
  19. News: GlobalLogic Announces Shashank Samant as New CEO GLobalLogic Latinoamerica. 2012-05-02. GLobalLogic Latinoamerica. 2017-11-06. es-AR. 2017-11-07. https://web.archive.org/web/20171107061126/https://www.globallogic.com/latam/gl_news/globallogic-announces-shashank-samant-as-new-ceo/. live.
  20. Apax Partners' Funds to Acquire GlobalLogic . 2016-01-18 . 2016-01-15 . https://web.archive.org/web/20160115112728/http://www.prnewswire.com/news-releases/apax-partners-funds-to-acquire-globallogic-226884321.html . live .
  21. GlobalLogic Continues Leadership Momentum with Hire of Zaheer Allam . 2014-12-22 . 2014-12-22 . https://web.archive.org/web/20141222203254/http://www.prnewswire.com/news-releases/globallogic-continues-leadership-momentum-with-hire-of-zaheer-allam-282249741.html . live .
  22. Web site: GlobalLogic Opens New Centre in India . 2014-12-22 . 2014-12-22 . https://web.archive.org/web/20141222194545/https://www.globallogic.com/press-releases/globallogic-opens-new-centre-in-nagpur/ . dead .
  23. Web site: GlobalLogic Opens a New Office in Europe . 2016-01-18 . 2017-10-27 . https://web.archive.org/web/20171027130654/http://hi-tech.org.ua/globallogic-new-office/ . live .
  24. GlobalLogic Establishes New Engineering Center in Poland . 2016-01-18 . 2016-06-01 . https://web.archive.org/web/20160601165907/http://www.prnewswire.com/news-releases/globallogic-establishes-new-engineering-center-in-poland-to-drive-european-growth-300117435.html . live .
  25. GlobalLogic Acquires REC Global . 2016-01-18 . 2016-01-16 . https://web.archive.org/web/20160116192344/http://www.prnewswire.com/news-releases/globallogic-acquires-rec-global-extending-software-product-development-leadership-300202488.html . live .
  26. Web site: GlobalLogic festigt durch Übernahme von REC Global seine Präsenz in Europa. digital-magazin.de. 21 January 2016. 15 May 2021. 15 May 2021. https://web.archive.org/web/20210515124842/https://digital-magazin.de/globallogic-kauft-rec-global/. live.
  27. News: BRIEF-Canada Pension Plan Investment board to acquire an approximate 48 pct stake in Globallogic. Reuters. 11 January 2017. 15 May 2021. 15 May 2021. https://web.archive.org/web/20210515124840/https://www.reuters.com/article/idUSASC09QH3. live.
  28. Web site: Canada Pension Plan Investment Board to Acquire an Approximate 48 Percent Stake in GlobalLogic Inc. From Apax Funds. 2017-01-11.
  29. News: Partners Group to Acquire GlobalLogic Stake From Apax Partners. Bloomberg.com. 2018-07-12. en. 2018-05-30. https://web.archive.org/web/20180530010234/https://www.bloomberg.com/news/articles/2018-05-21/partners-group-to-acquire-globallogic-stake-from-apax-partners. live.
  30. Web site: GlobalLogic Appoints Industry Veteran Rajaram Radhakrishnan as Chief Revenue Officer. Yahoo Finance. 2021-05-15. 2021-05-15. https://web.archive.org/web/20210515124843/https://www.yahoo.com/now/globallogic-appoints-industry-veteran-rajaram-060000658.html. dead.
  31. Web site: SimCorp Partners with GlobalLogic to Boost Investment Management Services with Cloud Transformation. finance.yahoo.com. en-US. 2020-03-05.
  32. News: GlobalLogic acquires UK-based ECS Group. The Economic Times. 2021-05-15. 2021-04-14. https://web.archive.org/web/20210414091923/https://economictimes.indiatimes.com/tech/information-tech/globallogic-acquires-uk-based-ecs-group/articleshow/79389100.cms. live.
  33. News: Japan's Hitachi acquires GlobalLogic for $9.6 billion. ABC News. 2021-03-31. 2021-03-31. 2021-03-31. https://web.archive.org/web/20210331120145/https://abcnews.go.com/Business/wireStory/japans-hitachi-acquires-globallogic-96-billion-76784279. live.
  34. News: Remember Hitachi? It's a Software Company Now. The Wall Street Journal. 2021-03-31. 2021-03-31. 2021-04-28. https://web.archive.org/web/20210428062116/https://www.wsj.com/articles/hitachi-to-buy-digital-product-developer-globallogic-for-9-6-billion-11617196654. live.
  35. Web site: Hitachi Completes Acquisition of GlobalLogic. PR Newswire. 2021-07-13. 2021-07-15. 2021-07-15. https://web.archive.org/web/20210715153059/https://www.prnewswire.com/news-releases/hitachi-completes-acquisition-of-globallogic-301333173.html. live.
  36. Web site: Hitachi's Software Team in India Grows to 15,000 with Globallogic Acquisition . 2021-10-27 . 2021-10-27 . https://web.archive.org/web/20211027112744/http://www.businessworld.in/article/Hitachi-s-Software-Team-In-India-Grows-To-15-000-With-Globallogic-Acquisition/15-07-2021-396685/ . live .
  37. Web site: 2022-11-21 . GlobalLogic Acquires Fortech, a Leading Digital Engineering Company Based in Romania . 2024-07-11 . GlobalLogic . en-us.
  38. Web site: 2023-12-13 . Leading Ukrainian IT company GlobalLogic acquires Australia's Katzion . 2023-12-13 . Yahoo Finance . en-GB . 2023-12-13 . https://web.archive.org/web/20231213212645/https://uk.finance.yahoo.com/news/leading-ukrainian-company-globallogic-acquires-153400605.html . live .
  39. Web site: Grab is messing up the world's largest mapping community's data in Southeast Asia. 2018-12-19. Jon Russel. membership requests for “more than 100 applicants” from GlobalLogic. TechCrunch. 2019-01-28. 2019-01-28. https://web.archive.org/web/20190128191427/https://techcrunch.com/2018/12/19/grab-maps-osm-thailand-southeast-asia/. live.
  40. Web site: [Osmf-talk] Board decision on recent OSMF membership registrations . 24 November 2018 . 30 July 2021 . 30 July 2021 . https://web.archive.org/web/20210730214845/https://lists.openstreetmap.org/pipermail/osmf-talk/2018-November/005456.html . live .
  41. Web site: Investigation into the Unusual Signups . 2019-01-27 . 2019-01-26 . https://web.archive.org/web/20190126093652/https://openstreetmap.lu/MWGGlobalLogicReport20181226.pdf . live .
  42. Web site: 100 new OSMF membership accounts on 2018.11.15 - OpenStreetMap Foundation. 2021-07-30. 2021-07-30. https://web.archive.org/web/20210730214848/https://wiki.osmfoundation.org/wiki/100_new_OSMF_membership_accounts_on_2018.11.15. live.
  43. Web site: Board/Minutes/2019-02-20 - OpenStreetMap Foundation. 2021-07-30. 2021-07-30. https://web.archive.org/web/20210730214848/https://wiki.osmfoundation.org/wiki/Board/Minutes/2019-02-20#Voting. live.

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