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Altisource Opens Technology Office in India

AUG 25, 2014 2:56pm ET
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Altisource, a mortgage data company in Luxembourg, has opened a new technology campus in Bangalore, India.

The Bangalore office will serve as the headquarters for Altisource Labs, the company's technology investment arm. The company plans to hire 500 software architects and technology professionals to staff the office.

"With the addition of Bangalore to the Labs global network, we are committed to building some of the most disruptive enterprise software for the real estate and banking industries from our new facility," said Ranga Shetty, in an Aug. 21 press release.

The announcement comes just a month after Altisource agreed to buy Mortgage Builder, a loan origination company in Southfield, Mich. The company launched Altisource Labs, its venture capital wing, in May.

Altisource was spun off from mortgage servicer Ocwen Financial in August 2009. Ocwen remains one of the company's largest clients.

Comments (2)
I have been dealing with Altisource in India since 2010.

Congrats for going public with that it'd bit.
Posted by Aleks V | Monday, August 25 2014 at 3:09PM ET
Altisource and Ocwen have already disrupted the real estate industry. It's time they get out of the U.S. market.
Posted by Stephen K | Monday, August 25 2014 at 3:37PM ET
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