Induslogic, a provider of outsourced software product development services, is merging with outsourcer Bonus Technology to build a global company. The combined firm will be called GlobalLogic, the companies said Monday. Financial terms of the agreement were not disclosed.

GlobalLogic, which will have a wide-ranging presence in areas including the Ukraine, is forecast to garner $50 million in revenue this year, said Induslogic CEO Peter Harrison, who steps in as GlobalLogic CEO.

Vienna, Va.-based Induslogic supports about 90 customers, including AOL, IBM and Sony Digital, delivering nearly all product development offshore from India. Bonus Technology, Newark, N.J., has focused on the Ukraine market. It has roughly 10 customers, such as Bloomberg, or Telecordia Technologies, a provider of software and services for IP, wireline, and cable networks.

During the year leading up to the merger, Induslogic completed more than 200 major product releases on behalf of 80 software companies. As GlobalLogic, the company also launched the first platform, Velocity Platform, a combination of applications and data repositories, either hosted or installed in-house.