Financial Daily from THE HINDU group of publications
Wednesday, Jun 23, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jun 23, 2004 |
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Info-Tech
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Venture Capital OfficeTiger gets $50-m funding from equity firm Our Bureau
Chennai , June 22 FRANCISCO Partners, a global private equity firm, has infused $50 million into OfficeTiger, a company that provides business process outsourcing solutions. Of the total amount, $25 million is a direct investment. The funds infusion is part of recapitalisation of OfficeTiger's holding company's ownership, says a company release. An information technology and services focussed private equity firm, Francisco Partners has $2.5 billion of committed capital. It targets majority and minority investments in private companies, public companies, and divisions of public companies, with transaction values ranging from $30 million to $2 billion The investment will fuel OfficeTiger's continuous growth in the US and Europe through capital improvements, acquisitions and strategic alliances, Mr Randolph Altschuler, Co-Chief Executive Officer of OfficeTiger, said in the release. The company has appointed Mr Neil Garfinkel and Mr David Golob, each a partner with Francisco Partners, to its board of directors, the release said.
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