Global Consultants, Inc. Acquires IVL India
GCI Strengthens Enterprise Resource Planning Practice and Increases Global Presence
MORRISTOWN, N.J., Jan. 23 -- Global Consultants, Inc. (GCI), one of the fastest growing providers of end-to-end information technology services and solutions worldwide, today announced the acquisition of a leading SAP Enterprise Resource Planning (ERP) services firm IVL India, in an all cash deal. IVL India is a Kerala-based business technology consulting company offering a range of SAP services, and industry leading SAP add-on products marketed under the Optibiz brand, which are SAP Netweaver certified.
GCI received $30 million in funding from Oak Investment Partners in 2006 to help fund future acquisitions and continue to grow its business worldwide. Today's acquisition is proof of this earlier announcement and part of the company's future growth initiatives. In fact, GCI has continued its rapid global expansion with over $250 million in total sales in 2006, resulting in year-over-year increase of over 35%. GCI is now well positioned as one of the leading mid-size IT service companies in the industry.
Chairman & CEO of GCI, Hiten Patel, said, "We are committed to growing organically and through acquisitions in order to continue to scale our global operations and strengthen our core practices. The acquisition of IVL is another step in this direction. Needless to say, we have a strategic road map for the future and IVL India is a key part of that strategy moving forward."
With this acquisition, GCI's ERP Practice is now over 700 professionals worldwide. Today's acquisition will allow GCI to strengthen its ERP Practice and inherit IVL India's competencies as well as enhance an already strong relationship with SAP. In addition, IVL India's Kerala presence gives GCI a competitive edge with a non-metro location, resulting in cost advantages and access to an alternate talent pool. GCI plans to grow this delivery center to over 1000 people in the next year, leveraging this location through its established BestShore Global Engagement Model.
"GCI's acquisition of IVL India now enables our products and offerings to be part of GCI's core solutions and services to Fortune 100 customers, which is immensely satisfying," said Sunil Gupta, managing director, IVL India. "There is huge demand for high-value ERP solutions and services in the enterprise segment today, and we are excited to tap into these opportunities as part of GCI. Meanwhile, we will continue as the ERP practice of GCI and it will be business as usual with all our existing and potential clients."
IVL India is one of the oldest and most reputable SAP services firms in India today. The acquisition will help GCI rapidly scale its ERP capabilities as well as service the growing needs of their international clients. In addition, GCI will now have greater access to the excellent technology talent available in Kerala, leveraging IVL India's reputation in this region.
"We are pleased with our overall growth and client-related performance this past year. However, we expect 2007 to be another major milestone year for us as we continue to expand our presence on a global scale, especially in China and Brazil, as well as expand our technology practices and domain expertise in key verticals," said Ashwin Rao, senior vice president, GCI.
GCI primarily services Global 2000 customers in a range of industries, including banking and financial services, telecommunications, retail, manufacturing, and pharmaceutical & health care. Services provided range from information technology application development and maintenance, Web 2.0 services, enterprise software solution deployment, eBusiness implementations, to quality assurance and testing and other highly-specialized technology offerings.
About GCI:
Established in 1991, Global Consultants, Inc. (GCI) is one of the fastest growing end-to-end information technology services and solutions firms worldwide. GCI's client-centric philosophy, commitment to service excellence and BestShore(TM) global engagement model enables its Fortune 500 clients to succeed in today's global digital economy. With over 3500 IT professionals globally, GCI provides onsite, offsite and offshore technology services and solutions to leading financial services, telecommunications, manufacturing, retail and logistics corporations. The privately-held company has offices in the U.S., Europe, and India including five existing global delivery centers with recent expansion into Brazil and China. For more information, visit
http://www.g-c-i.com/
About IVL India:
IVL offers a portfolio of comprehensive business services and products designed to help companies optimize their current SAP systems, while extending them into the world of connected business through innovative new technologies using well defined onsite and offshore methodologies. IVL's state-of-the-art software development center caters to the round-the-clock development and support services for clients around the globe. The company has a high quality offshore delivery model, a comprehensive suite of Products and tools and large pool of internationally experienced professionals employed worldwide, with operations in the Middle East, Germany, U.S.A. and India. IVL India supports SAP Labs, Sapient colleges and SAP India for their Consulting &Training needs on various new and emerging technologies.
Source: Global Consultants, Inc.
CONTACT:
Emilio Dabul,
+1-908-822-7106,
edabul@fast-lane.net, for Global Consultants, Inc.
Web site: www.g-c-i.com/
