Maveric Systems to offer end-to-end assurance to clients

Maveric Systems has decided to transform itself from a pure-play testing to an upstream assurance company. It will provide end-to-end assurance to all its clients. This service will include validating new technology decision, implementation of technology planning and assurance for the new requirements. By becoming an assurance company, Maveric Systems will involve itself in decision-making and selection of products that would improve and increase the efficiency of the clients' business. In an interaction with this correspondent, Ranga Reddy, Chief Executive Officer, has said that the company is aiming to be an important player in the U.K. market in the near-term. It has significant presence in the Asia Pacific region, Middle East and the U.K.

Maveric was holding talks with a U.K.-based company for an acquisition with which it has been working. The company was planning for another acquisition in the same region. With these acquisitions, Maveric would position itself as a front-end assurance company.

The size of these deals would be 10-15 million euro and the company had already approached a couple of venture capitalists for funds.

Stating that there were two types of testing, functional and non-functional, Mr. Reddy said Maveric was in functional testing area which comprises business as usual testing and transformation testing. He said the IT testing companies were seeing a growth in the latter business. Nearly 80 per cent of the company's revenue came from this stream. This testing required product or business knowledge of its clients.

At present, the company was focussing on two verticals — banking and insurance. It had recently entered automobile and telecom areas. Maveric was hoping to scale a revenue of $18 million during 2011-12 with a staff strength of 600. Being a niche player in testing market, it would not be able to have a scalable model as in the case of IT services and solution.