Seqouia Capital India funded GlobalLogic Inc. has bought InterObject, a software product engineering company for $10 mn. Through acquisition of InterObject, GlobalLogic gains access to InterObject's expertise in embedded software, mobile and multimedia streaming products and strong positioning in R&D offshore services in Israel. It will help GlobalLogic expand its footprint in Eastern Europe.
InterObject, founded by Alex Agizim, has R&D centers in Lviv and Kiev in Ukraine. It has been earning profits since 2004, reportedly making an annual revenue of $8 mn, and has not needed external financing. Its important clients include Kodak, Zoran and Samsung.
This is the third acquisition of GlobalLogic since January this year. Earlier this year, it acquired Dalian 3 CIS in China and Validio Software in Ukraine in order to expand its product development teams.
Sanjay Singh founded GlobalLogic secured a third round of funding from Draper Atlantic (now New Atlantic Ventures), New Enterprise Associates (NEA) and Sequoia Capital India, early this year.
GlobalLogic specializes in software product R&D with services including market analysis and product conceptualization, engineering to migration, testing and support.
Headquartered in Vienna, Virginia and having European headquarters in London, U.K, the company has global delivery centers throughout the U.S., India, Ukraine and China and employs nearly 3,000 professionals worldwide, two-thirds of whom are in India, and one third in Ukraine.
GlobalLogic has ongoing partnerships with more than 150 technology clients that include Autodesk, Broadsoft, Electronic Arts, Intalio, Motorola, NextPoint, Vertica and Yahoo.