GCI acquires Kerala based IVL India

Bangalore, Jan 23: The US dollar 250 Million GCI Solutions (P) Limited today announced acquisition of Kerala based leadingERP services firm IVL India in all cash deal.

Announcing the acquisition, GCI Solutions Chief Executive Officer Jawahar Bekay said that the acquisition was part of the strategic policy and it would help to rapidly scale ERP capabilities as well as service the growing needs of international clients. Besides GCI would now have more access to the excellent talent available in Kerala.

He said that the head count of the company would be increased to 7,500 by 2009 from the present 2500.

Mr Bekay said that GCI had received a USD 30 million funding from Oak Investment Partners recently and this was utilised for acquisitions for business growth.

However, Mr Bekay declined to disclose the amount paid for acquisition.

GCI Inc. Chairman and CEO said that ''we are committed to take the acquisition route to scale up our operations and strengthen practices.'' IVL India Managing Director Sunil Gupta, who was also present, said that ''this acquisition by GCI would enable to take our SAP products and offerings to Fortune 100 customers across the globe.''

UNI