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GCI gets 30 mn dollar funding from Oak Investment partners

Written by: Staff
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Bangalore, May 4 (UNI) Aiming to turn a half a billion dollar company in the next three years from the current base of 200 million dollars, Global Consultants Inc (GCI), one of the fastest growing end-to-end information technology services and solutions provider worldwide, today announced that it had received a 30 million dollar funding from Oak Investment Partners.

The funding would enable Oak Investment to take a minority stake in GCI, celebrating its tenth year.

Announcing the funding at a press conference here, GCI Chairman and Chief Executive Officer Hiten Patel said the company was looking at an aggressive growth in India, where it had presence in Bangalore with a staff of over 700. From the current global strength of 3,000, GCI aimed to hit 7,500 over the next three years and was even keen on inorganic growth, looking at companies with domain expertise.

He said the company had drawn up a blueprint for both organic and inorganic growth in India and over the next few days, an acquistion was likely to be formalised. However, he did not specify the company's name.

GCI also aimed to grow in China, Brazil and East European countries, moving out of its US-centric operations.

GCI provided onsite and offsite technology services and solutions to leading financial services, telecommunication, manufacturing, retail and logistics corporations.


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