IT and Industries Minister D. Sridhar Babu, Perseus Group of Constellation Software President Scott Smith and others at the opening of 1.4 lakh sqft GCC of Dark Matter Technologies in Hyderabad on Friday.
| Photo Credit: Arrangement
Perseus Group of Constellation Software portfolio firm focused on Artificial Intelligence-driven solutions for mortgage banking industry Dark Matter Technologies on Friday formally opened a 1.4 lakh sqft global capability centre (GCC) in Hyderabad.
The GCC is operational and has 750 employees. The plan is to triple the facility’s headcount to 2,250 over the next couple of years, the firm said after IT and Industries Minister D. Sridhar Babu opened the centre. The hiring will be across domains, including software engineering, Data Science and cybersecurity. The centre is set to fulfil the needs of more than 1,000 companies in the U.S., Canada, Africa and Australia, it said.
Hyderabad is India’s answer to Silicon Valley in the Banking, Financial Services, Insurance sector. “With five of the world’s top BFSI GCCs, including Wells Fargo, Goldman Sachs and now Dark Matter, we are scripting a new narrative of tech-led growth,” Mr. Sridhar Babu said.
Telangana host over 355 GCC’s generating $10 billion in revenue and employing 3 lakh skilled professionals. Hyderabad’s appeal as a business hub has positioned it as a key destination for innovation. India hosts 1,800 GCCs, a number projected to touch 2,500 in 3-4 years, which still leave 75% of the Fortune 500 market untapped. Telangana has the potential to lead, especially in the BFSI sector, leveraging its strong talent pool and cutting-edge financial engineering infrastructure, the Minister’s office said in a release.
“India is a key market and Hyderabad with its thriving tech ecosystem and deep talent pool, presents the ideal location for our GCC. This expansion reflects our commitment to investing in innovation and building a world-class workforce…. We look to acquire and invest in technology companies in India,” Perseus Group of Constellation Software President Scott Smith said. Perseus Group of Constellation Software is a global leader in vertical market software with over 1,000 companies worldwide in its portfolio.
“The GCC will house a dedicated product engineering team, driving innovation and enhancing the company’s suite of technology solutions,” Dark Matter India Technologies President and MD Ravi Varma said.
Published – January 31, 2025 08:21 pm IST
