Aricent raises new round of funds from KKR, Bahrain investor

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New Delhi, Sep 23 (UNI) Mobile software outsourcing company Aricent today said it has raised a new 60 million dollar funding from New York private equity firm Kohlberg Kravis Roberts and The Family Office, an investor in Bahrain.

The new round consists of two parts--a 35 million dollar tranche and a 25 million dollar tranche, for a total of 60 million dollars.

''Aricent plans to use the investment capital to accelerate the momentum of engagements with leading infrastructure, application and service providers worldwide, as well as expand the company's business activities in the West Asia,'' a company statement said.

Aricent was created a couple of years ago as a spin-off from contract manufacturer Flextronics, in a funding led by KKR and Sequoia Capital.

US-based Aricent has 8,000 employees, including 6,500 developers in India. It has a product portfolio of more than 125 products which it licenses to customers.

The company's revenues have grown from 238 million dollars in its 2006 fiscal year to 382 million dollars in its 2008 fiscal year.

Its list of rivals includes Accenture, Infosys, IBM, Sasken, Tech Mahindra and Wipro.


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