The company is into product development and software services and has developed a human resource management system which is undergoing beta testing. The software covers all processes from recruitment to retirement, R Venkata Subramani, managing director. told The Financial Express.

Soffia has other products in the areas of income tax accounting, payroll applications and asset accounting.

The software outfit is targeting growth through acquisitions. It has appointed KPMG as advisor for takeovers in India and US. The consultant is in the process of conducting due diligence in two or three companies.

"We are looking at companies with revenues of $5-10 million in the US", said Subramani. Overseas operations are being strengthened through existing offices in US and UK while new offices are being put up in Australia and Singapore.

A software development centre with a floor area of one lakh square feet is being planned. The cost of the project is estimated at Rs 20 crore and is expected to be completed by December 2001. The facility will seat 400 to 500 professionals when fully operational. Soffia has a staff strength of 190 in India and 30 in the US. It plans to add 80 to 100 developers by the end of the calender year. On the means of funding the expansion plans, Subramani said no immediate equity expansion plans were on the cards.