GCI acquires IVL India
Bangalore, Jan 23 (UNI) The US dollar 250 Million GCI Solutions (P) Limited today announced acquisition of Kerala based leading ERP 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