USM expands, plans to raise $10 million!
USM Business Systems Inc.
Source: Business Line
Hyderabad, May 21: USM Business Systems Inc is aggressively expanding operations in both India and the US to tap the growing opportunities in data analytics, mobility and business intelligence areas.
The Chantilly, Virginia, US-based company is setting up centres in Pune and Bengaluru in India this year.
In the US, it is moving into Dallas this month end to ensure continued support to one of its biggest customers — Toyota, which is reportedly shifting to that city, said K Madanmohan Rao, Chief Executive Officer.
Plans are being firmed up to enter the Middle East, South America, the UK, Australia and New Zealand soon.
The overall objective is to double the size of the company in revenues from the present ₹600 crore and employees from around 1,300 globally, he told BusinessLine.
USM Business Systems, which drives its India operations from offshore location in Hyderabad, is a system Integrator, Software and Product Development, IT Outsourcing and Technology assistance supplier.
It has recently come up with a couple of products in data analytics that are shoring up its global business and bagging bigger clients through the associate company USM Analytix DS, he said.
To meet the investment needs for strengthening the Bengaluru data integration facility launched in February, Pune by end of 2015 and Dallas, the company will raise $10 million through private equity. Talks are already are at an advanced stage, he added.
The company made a major diversification into the ESDM area.
It has roped in Industry biggie, Rajeev Gupta, ex-India head of Fujitsu Consulting, as a strategic adviser and has set up an exclusive facility in Washington DC. With 50-100 staff, it will provide mobility and premium solutions in the sector to clients in the US.
USM, which has been growing steadily since 2004 with continuous product development, diversified IT services and repeat business from the growing clientele. It was adjudged 6th professional IT business company in the consulting segment in the Washington area in 2014.