Date:30/09/2004 URL: http://www.thehindubusinessline.com/2004/09/30/stories/2004093002140700.htm

Back WestBridge Cap invests $7 m in AppLabs Tech

Our Bureau

Hyderabad , Sept. 29

THE Mauritius-based technology venture fund — WestBridge Capital Partners, on Wednesday announced an investment of $7 million in Series A equity financing in AppLabs Technologies Pvt Ltd, an independent software testing, quality assurance and custom application development services provider.

As part of the investment, Mr Sumir Chadha, Senior Managing Director, WestBridge Capital Partners, will assume the role of Chairman at AppLabs and Mr Guhan Swaminathan, Principal, WestBridge Capital Partners, will join the board of AppLabs.

Headquartered in Philadelphia, AppLabs has an offshore technology centre in Hyderabad providing testing of the most complex and challenging applications. AppLabs technical services include functional, compatibility, performance, wireless, usability and code reviews.

The Founder and Chief Executive Officer of AppLabs, Mr Sashi Reddi, in a statement said, "This investment will provide us the financial strength to go out and acquire the talent and revenue in the software testing space." The software testing industry in the US is estimated at about $3 billion and has emerged as a fast growing piece of the IT services spectrum that is being outsourced to India. The software industry has increased the market for outsourced quality analysis and product development.