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Our Bureau

Bangalore , June 14

SOFTWARE services firm Infinite Computer Solutions (ICS) India Pvt Ltd has announced that it has secured a $6 million (around Rs 27 crore) funding from the Singapore-based investment management agency, WhiteRock Partners.

Infinite plans to utilise the funds to finance its global expansion and acquisition plans, said Mr Sanjay Govil, CEO, Infinite Computer Solutions. The company is looking at setting up facilities in China and Philippines, he added.

It is currently in talks with several IT firms for a possible merger and acquisition deal, said Mr Upinder Zutshi, Chief Operating Officer. Infinite, which clocked revenue of $70.6 million (Rs 321.5 crore) for fiscal 2003-04, serves clients such as Verizon, IBM, Pitney Bowes, General Electric and JP Morgan Chase among others.

The company is targeting revenue of $90 million for the current fiscal and $160 million by 2006-07, Mr Zutshi said.

The company currently has a headcount of 1,400, of which about 650 are in India and the rest overseas. Infinite expected its headcount to rise to 4,000 by 2006-07, he added.

Mr Goh Boon Seong, Managing Director, WhiteRock Partners, said: "Infinite's strong customer facing team and its unique global delivery model makes it distinct from other IT companies. We look forward to helping it attain leadership in the global market".

With WhiteRock investing in Infinite, its Director, Mr Manfred Seah, will be on the board of Infinite.

More Stories on : Venture Capital | Software | Mergers & Acquisitions

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