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Vishwanath Kulkarni

Looking for cos offering domain-centric services

Bangalore , July 7

After acquiring majority stake in Planetasia last year, Global Consultants Inc (GCI) is now looking for more buy-outs in the Indian market.

The company is in talks with five firms and expects to acquire a couple of them by the year-end, said Mr Jawahar Bekay, CEO of GCI Solutions (formerly Planetasia).

"We are looking at building competencies and scale in areas of testing and enterprise solutions, especially ERP services and support."

GCI is looking for companies with 300-500 people offering domain-centric services in verticals such as BFSI (banking, financial services and insurance), telecom, manufacturing, retail, and logistics, with revenues of around $15 million, he added.

The company is also looking for acquisitions in the US to strengthen its front-end capabilities.

GCI expects to fund the proposed buy-outs in India and the US from the $30 million recently raised from Oak Investment Partners, he said.

GCI's clientele includes several big names such as Verizon, Bank of America, AT&T, JP Morgan, Capital One, Puma, and Home Store.

In India, it has about 700 people, which it expects to double by middle of next year, Mr Bekay said. GCI employs some 3,000 people globally, which it expects to increase to about 8,000 in three years.

The company, which has a development centre in Bangalore, is looking at expanding its operations to other cities in India.

It clocked revenues of $170 million in 2005, and expects to record revenues of $250 million in the current calendar year, a growth of almost 50 per cent.

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