Mumbai based enterprise application solution company Thirdware Solution, in which Ford Motor has 20% stake, has set up a subsidiary in Germany as part of its overseas expansion drive. A US subsidiary will follow shortly and will be the company's fourth overseas Subsidiary. The company plans to use the subsidiaries as vehicle for acquisitions or JVs next year. The company's first two subsidiaries were set up in UK and Singapore.

Its total employee strength has grown from 67 to 150, including its overseas recruits. Thirdware is Ford Motor's only investment in the IT sector outside the US. Ten percent of Thirdware's revenue last year came from Ford. According to Thirdware Director Pradeep Erinjery, during the current financial year, about 17 percent of its revenues will be from the $162bn auto giant.

The German subsidiary is currently manned by six people and is working on ERP project for a German semiconductor company, apart from Ford. "We see lot of potential in German market for ERP solutions in light of the fact that companies there are trying to complete their financial system roll-outs to make them Euro compatible before January'02. Having subsidiary in Germany in addition to UK will also help us to penetrate the European market more easily." said Mr. Erinjery.

The company is looking at growth through acquisitions and JVs during the next financial year and the four subsidiaries will serve as vehicles for this purpose.