Mascon Global Ltd, a Schaumburg, Illinois-based provider of outsourced offshore software services, has been named the fastest growing tech company in Chicago area over the last five years in the 'Fast 50' competition organised by Deolitte and Touche, USA.
Mascon which topped the list last time in 2001, this time bagged the top position on account of a five-year increase in revenues, a press communication from the company said on Wednesday.
"We were at the right place at the right time," Nandu Thondavadi, chief executive and founder of the company which is publicly traded in India said in the communication, adding that it costs his clients $25 an hour for programmers in India compared to $100 in the US.
He said American corporations were now open to outsourcing advanced research and development programming outshore, which helped power his revenues to $60 million from $100,000 in 1996 when the company was founded.
The company which has 1,400 employees has done work for 3M, Motorola, Wal-Mart, MasterCard International, Citibank and GE.
The winners of the 'Fast 50' competition would be honoured at an award ceremony scheduled to be held on 30th of this month, according to the communication.
