$30-million funding from Oak Investment Partners for GCI for global expansion
04 May 2006
Bangalore: End-to-end IT services and solutions provider to financial services organizations, Global Consultants, Inc. (GCI) will receive a $30-million round of financing from Oak Investment Partners for a minority stake in the business. GCI is a $200-million enterprise.
GCI will use the proceeds to significantly expand its existing offshore delivery capacity and service capabilities in India as well as acquire strategic offshore and service-oriented technology companies with specific domain or service expertise in its areas of focus. In addition, the company also has plans to expand its global footprint and highly-specialised service platform in Brazil and China as well as strengthen its existing presence and global development centers in Europe and the US.
"We recognised GCI to be an outstanding platform for building a top-tier global services company," said Ed Glassmeyer, General Partner of Oak Investment Partners. "Given its strong management team, vision, scale, service platform, and Fortune 100 client-base, GCI is fast becoming a leader in providing outsourced services worldwide."
Says Hiten Patel, chairman and CEO, GCI, "We decided to partner with Oak because of their tremendous track record of helping portfolio companies plan and execute aggressive growth strategies. GCI plans to build its employee base from 3,000 to over 7,500 over the next three years."
says its global engagement model helps leverage capacity,
capabilities, competitive pricing and competencies across
geographies to improve delivery and predictability,
resulting in greater customer satisfaction and loyalty.
"These services are delivered through a unique
combination of company owned frameworks
and intellectual property as well as value-added service
models and thought leadership, which has helped us retain
and grow our client relationships over the years,"
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation