Oakton goes to India

Oakton goes to India

Oakton is establishing an Indian development centre in an effort to tackle global IT competitors head-on.

CEO and managing director, Neil Wilson, said the new facility would give the services provider access to lower cost development work and support.

This was necessary to secure larger outsourcing contracts and increase the scale of current deals, he said.

"All global providers have offshore facilities. We often miss out on deals because we don't have the price point to match," he said. "A number of our customers are asking for this capability to do larger projects. It's about being able to offer a price that's competitive."

Wilson said the company would continue to invest in its local skill set.

The announcement follows the release of Oakton's full-year financial report to June 30. Net profits increased by 55 per cent to $14.4 million. Revenue rose by 42 per cent to $76.8 million.

Wilson said its Sydney branch was a strong contributor, with pre-tax profits increasing by 75 per cent to $8.3 million. Oakton's Brisbane office, which opened in January, had also secured several wins.

Wilson said it was also benefitting from the trend towards selective outsourcing. The company boosted staff by 94 to 457 during the 12-month period. A further 58 people were brought on this month as a result of its recent acquisition of Clickstream.

Wilson said Oakton would continue its hunt for potential local acquisitions.

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