Bengaluru, Karnataka, India | 23rd June 2020 Octaware Technologies Ltd. announces the launch of its new office in Bengaluru, the IT hub of India, expanding operations and headcount.
Software and business solutions firm Octaware Technologies Limited announced the opening of its new branch in Bengaluru, India, to provide services to multinational customers for the establishment of captive development centers in India.
This branch will house the captive development center of Al Musbah Group (AMG), a business conglomerate with 20+ business units headquartered in the Kingdom of Saudi Arabia. AMG has businesses spanning real estate and retail to IT and telecom.
The captive development center model means offering clients a logical extension of their IT team. Captive units are set up to run the exclusive development outfits for clients.
Octaware has hired top talent from the e-commerce industry and plans to rapidly grow its Bengaluru operation over the next several years.
Incorporated in 2005, Octaware Technologies Ltd is a software development company providing a range of information technology solutions. The company designs, develops, and maintains software systems and solutions, including advanced technologies such as artificial intelligence, cloud, analytics, big data and Internet of Things (IoT) solutions. The company is listed on the Bombay Stock Exchange (BSE) SME platform.
The company’s Bengaluru operations, which opened on Monday, 1st June 2020 will focus on building the e-commerce platform for HNAK, a group company of AMG. The Bengaluru team will work in collaboration with the HNAK team in Saudi Arabia to deliver innovative and industry-leading solutions with scale, experience, and a client-focused approach.
Speaking at the launch of the new Bengaluru office, Anwer Bagdadi, CEO, Octaware Technologies Limited, said, “There is no better time to open a new captive development center given the current global situation where everyone is looking at coming back up stronger. This captive working model is gaining popularity in India, due to the depth and breadth of the country’s technical expertise. We will continue to strengthen our offerings with captive development services to further boost our growth.”
“The Saudi Arabia e-commerce market is currently US$ 6 Billion and anticipated to surpass US$25 Billion by the end of the year 2026 driven by increasing mobile and internet penetration,” said Qutaibah Al Sharif, CEO, HNAK.
“The IT talent pool in India is astonishing. It is a great opportunity for us to set up a captive development center in Bengaluru, India, in partnership with Octaware Technologies, which brings in over a decade of technical and business expertise, and shall help us execute the vision of HNAK across the Middle East region,” he added.
“We are excited at our partnership with AMG, and the opening of our new Software Development Centre in Bengaluru. We are confident that this new partnership will mark a new beginning in the way Octaware Technologies operates in the middle-east region,” said Aslam Khan, Founder Chairman and Managing Director of Octaware Technologies. “There are many opportunities that exist in today’s market, and we are making a strong statement by effectively increasing our workforce by 200%.”