$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,"