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Eyeing a bigger share of Indias legal process outsourcing LPO space, CPA Global is set to scale up its India operations by investing over USD50 mn in the next 3 to 5 years. The LPO firm is targeting the domestic legal services industry that is expected to grow on the back of increasing mergers and acquisitions. CPA Global works in the areas of contract management, litigation support and patents, trademarks and intellectual property IP management.
The Indian legal services industry is poised to grow to USD640 mn by 2010 with an annual growth of USD146 mn. We are very clearly focused on achieving a leadership position in this market in the next 3-5 years,†said CPA Globals India head Bhaskar Bagchi.
The company is eyeing a market share of 25 to 30 percent of the Indian LPO space in the next few years and expecting revenues to the tune of USD340 mn.
In order to scale up its India operations, CPA Global plans to increase its focus on India specific merger and acquisition activities. It is also importing its global experts to train the local talent.
The LPO firm currently has a facility in Noida, while another one in Gurgaon would be ready by November this year. The company currently employs 350 professionals in the country. It plans to increase its India headcount to 2,000 in the next 3 to 5 years.
CPA Global CEO Peter Sewell said that the company has plans to expand its presence to other regions in the domestic market by setting up new offices across the country. CPA made its India foray in 2007 with an initial investment of USD50 mn. It also made subsequent investment of USD10 mn.
According to research firm Valuenotes, the Indian offshore industry will grow from a current revenue base of USD146 mn to touch USD640 mn in 2010. The overall addressable offshore opportunity in legal services is estimated to touch USD4.5 bn by 2010. At present, the Indian legal offshoring space employs around 7,500 people, which is expected to reach 32,000 by 2010-end.
Founded by attorneys in 1969, CPA Global has facilities in the US, Europe and Asia Pacific. The company currently employs 1,100 people globally.
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