Get the latest news and trends on Long Island companies and the people behind them.
CA looks to expand workforce in India
Several news agencies in India are reporting this week on a visit to Hyderabad by William McCracken, the CA Technologies chief executive. McCracken told reporters there that the company plans to add, during the next five years, another 500 workers to the 2,000 CA software engineers and other employees already in Hyderabad.
CA, with a market capitalization of about $13 billion, also considers the Southeast Asian nation "a good target" for future acquisitions of other companies, McCracken, 69, told reporters Tuesday.
McCracken was in Hyderabad, a city of about 7 million and capital of the southern state of Andhra Pradesh, for the launch of a CA partnership with the International Institute of Information Technology. CA and the school teamed up to create the University Innovation Centre.
A Tuesday report in the Hindu Business Line says CA has also signed an agreement with two private info tech companies, Mahindra Satyam and Tech Mahindra, in Hyderabad "to conduct joint research in cloud, telecom, manufacturing and the healthcare verticals."
The International Monetary Fund estimates that the Indian economy will grow this year by about 7 percent, down from last year's 8 percent.
CA's shares were up 26 cents to $28.59 in early trading Wednesday. CA, based in Islandia, reports $901 million income on $4.75 billion revenue during the past year, as reported in quarterly earnings statements.
The company's operations in Hyderabad are centered in HITEC City, where CA's cricket team this spring edged past teams from Honeywell and Thomson Reuters to make it into the Super Six final competition, but was bested by teams from Qualcomm and IBM, according to the Hyderabad Software Cricket League website. (HITEC stands for Hyderabad Information Technology Engineering Consultancy.)
Read more of Inside Long Island Business