Altisource Opens Technology Office in India

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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.

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