Techwave Consulting, a business intelligence and process services firm, will treble its staff to 1,000 by 2016 from the present 350 plus. It will double its headcount to 600 in 2015. Most of the additions will come in the new regions they are going to expand to in the next two years.

“We have just expanded to Singapore and Abu Dhabi and we will be starting operations in South Africa after that,” Damodar Rao Gummadapu, the Chief Executive Officer of Techwave Consulting, told BusinessLine .

About 175 employees work in its Hyderabad facility, while the rest work out of the US. “Though we started our operations in 2004, the growth phase began in 2009. We grew to 375 this year from 84 in 2011,” Damodar said.

The company expects to cross the $50-million revenue mark next year from the present $20 million. “Our expansion to Singapore, the Gulf and India is expected to drive revenues. Besides, we have been witnessing double digit growth in our business with existing clients,” he said.

Besides, the company also sees potential in Business Process Outsourcing for high value consultation for assisting clients in decision making in various verticals such as pharmaceuticals and retail.

“We started this vertical a while ago with 15 people. This vertical alone will have 100 in the next 12-18 months,” Damodar said.

The US-based firm, mainly into services, is looking to acquire a products firm. “Our strategy to acquire a firm is two fold. Either it should help us in our expansion to new geographies or it should enhance our portfolio with a product in the area we are operating in. We might close a deal in six months,” Raj Gummadapu, Chief Operating Officer, said.

It is looking to add domain strengths business analytics, big data, enterprise performance management. It, however, has no plans to raise money at this point.

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