Bangalore: India's fourth largest software exporter Satyam Computer Services today (Nov 2, 2004) said it plans to hire 60 software professionals in Hungary, where it has set up a 6,000 sq ft software development centre.

The centre located at Budapest, capital of Hungary, is its first in Eastern Europe and will serve Satyam's customers in the fast growing European market as a near shore facility.

"This latest expansion demonstrates Satyam's continued commitment to the European market and to providing services and solutions to customers across the world," Satyam Chairman Ramalinga Raju said in a statement in Bangalore.

The Hyderabad-based Satyam will initially hire 60 professionals from Hungary, Raju said, adding, "Satyam has the option of hiring several hundreds more".

Satyam, which has over 16,800 employees in over 45 offices across the world, did not disclose the investment made in the new centre.

"We are highly competitive in Europe's growth market and now with this newly established presence in Hungary, we intend to be the leader in this market place," Raju said.

Satyam develops software for over 350 customers, including 109 Fortune 500 companies.

"Near shoring as a concept has enabled us not only to add value to our customers, but it also allows us to work closely with the region's Government" Satyam's Head of European Operations Keshab Panda said.