Prodapt, a service provider in the connectedness industry, is expanding its Panamanian operations through a $7 million investment, leveraging the nearshoring advantage offered by the country. The investment will generate approximately 500 technology jobs in areas such as cloud computing, artificial intelligence, and technical support.
This development comes a year after the Chennai-headquartered company decided to double its investment in the UK market to £100 million.
"Prodapt is the first India-headquartered technology services and consulting firm to set up operations in Panama. By leveraging the country's skilled workforce and conducive business environment, we have scaled its operations several times over the last two years," said Harsha Kumar, CEO of Prodapt. "We've invested around $5 million in building the center and its workforce," he added.
The company's operations in Panama began with a six-seater setup and has expanded over the last two years to 200 technology and domain experts who offer critical delivery and troubleshooting services for Prodapt's strategic customers in the connectedness domain, including some of the largest Communications Service Providers in the Americas. The employee count at Prodapt Panama is expected to exceed 300 this year.
"Prodapt works with many major enterprises and employs over 6000 technology and domain experts in over 30 countries. For me, Prodapt's success in Panama is especially heartening as it is the first India-based technology services and consulting firm to set up operations in Panama in 2020. I wish the firm success in Panama and global operations," Upender Singh Rawat, Ambassador of India to Panama, said.
The company's Panamanian operations enhance service delivery for clients in the Americas by complementing offshore strengths with specific capabilities that a nearshore center can provide, such as unique multilingual capabilities and time zone compatibility. The local center is now building the capacity to anchor all Latin American businesses, which accounts for about 15 per cent of the company's annual revenues.
Prodapt employs over 6,000 technology and domain experts in over 30 countries across North America, Latin America, Europe, Africa, and Asia. It is part of the 128-year-old business conglomerate The Jhaver Group, which employs over 30,000 people across 80 locations globally.