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10/9/13

IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore - The Economic Times
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IToutsourcingfirm,GlobalLogic, foundedbyfourIITianssoldforRs 2,578crore


BySamidhaSharma&BobyKurian,TNN|9Oct,2013,06.00AMIST
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BuildingInfrafortheCityofDreams

FoodBiz:RacetobeNo1 StunningPictures:LuxuryonWheels MUMBAI:PrivateequitygiantApax

FutureofMicrosoft&Bill

PartnershasacquiredGlobalLogic,anIT outsourcingfirmfoundedbyfourIITians,for $420million(Rs2,578crore),makingitthe biggestIndiaexitdealforaclutchofventure capitaliststhisyear.

GlobalLogic,whichhasatypicalhybridbizmodelpursuedby Indiantechentrepreneurs,withlargedevelopmentcentresin India,UkraineandArgentina.

Editor'sPick Apaxhasstruckthesecondbigdeal connectedtoIndia's$108billion TCS,Infy,Cognizantwantabiggerbyteout outsourcingindustry.Twoyearsago,it ofEurope Mumbai'snewlocaltrainswith SpriteisNo1,topplesThums Newluxuryomnibusesgive QuestionatMicroso backediGate BSE0.00% Corptobuyout GoogleunveilsnewHPlaptopfor$279| energyefficientcoaches Upafterthreedecades airlinesarunfortheirmoney WhatwillBillGates PatniComputerfor$1.2billion. Pics Thecountry'sfirststainlesssteelelectric RameshChauhan,themanwhocreated notcontenttostopatastraightdrive, Thenarrativeoftherescuin GlobalLogic,foundedbyRajulGarg, multipleunit(EMU),meantforMumbai's ThumsUpin1977andsoldhisbizto superiorsuspension,ACanddrapes, powerfulone,sinceSteveJ TravelcompaniesrefundingKFA SanjaySingh,ManojAgarwalaandTarun suburbannetwork,wasflaggedoffat CocaColain1993,saysit'salldowntothe busestodayofferahostofluxuryfeatures toAppleandtransformedit customers IntegralCoachFactory.Clickthrough... palateandclevercampaigns. Upadhyay,competeswithSymphony thatactuallyrivalaircrafttravel. world'smostprofitablecos. USbanonsomeSamsungproductstogo MumbailagsbehindotherIndiancitiesin MotherDairyentersNorthEast Howtobuyanalmostnewluxuryride Microsoftlaunches'Krrish BSE1.47% TechnologyandPersistent intoeffect infrastructure launchesicecreamsinGuwahati reallycheap Windowssmartphones,P Systemsintheoutsourcedproduct IBMtodevelopsmartcitiesintheDelhi ParleAgroreturnstofizzaftertwenty BentleylaunchesnewFlyingSpurpriced BillGates,SteveBallmer Twittervaluationmayexceed$20bnafter developmentorresearchanddevelopment Mumbaiindustrialcorridor yearswithacoffeerush atRs3.1croreIPO electiontoMicrosoftboar space
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GlobalLogic,whichhasatypicalhybrid businessmodelpursuedbyIndiantech entrepreneurs,isbasedinCalifornia,with largedevelopmentcentresinIndia,Ukraine andArgentina.Itisoneoftheleadersin outsourcedproductdevelopmentservices. "Thisisanemergingsectorwhichwewere keentoinvestin,"ShashankSingh,MD, ApaxPartners,toldTOI.Hedeclinedto commentonfinancialdetails.

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Foundedin2001,asIndusLogic,andlaterrenamedasGlobalLogic,theoutsourcingfirm reportedaround$250millionissalesandmayhavegotavaluationofmorethantentimes itsoperatingprofit,akeymetricwhilevaluingacompany. ThesaleofGlobalLogicgivesabumperexittoitsexistinginvestorsNewEnterprise


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economictimes.indiatimes.com/tech/ites/it-outsourcing-firm-globallogic-founded-by-four-iitians-sold-for-rs-2578-crore/articleshow/23753100.cms

10/9/13

IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore - The Economic Times

Mumbai'snew&comfortable localtrains!

Associates,SequoiaCapital,WestbridgeCapital,GoldmanSachs,andNewAtlantic Ventureswhomayhavepocketedasmuchasfivetimestheirinitialinvestment. Westbridge,whichinvestedinthecompanyin2006,isthelargestshareholderinthe company.

ThefirmhadappointedJPMorgantofindabuyeraftershelvingIPOplans.GlobalLogic, Home News Markets IPO PersonalFinance MutualFunds Tech Jobs Opinion Features Blogs Slideshows ETNOW ETSpeed with6,500employees,willoperateasanindependententityandnotmergedwithiGate. ThecurrentCEOShashankSamantwillcontinuerunningthebusiness. IndiaborntechentrepreneurshavefiguredinsomeofthemosttalkedaboutM&Adealsin recentpast,churningoutbigprofitsfortheirfinancialinvestors.ThisincludeCisco'sbillion dollarbuyoutofMerakiandGoogle'sbuyoutofgesturerecognitionstartupFlutterlast week.StaplesboughtecommercepersonalizationcompanyRuna,cofoundedbyrepeat entrepreneurAshokNarasimhan,afewdaysago.

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economictimes.indiatimes.com/tech/ites/it-outsourcing-firm-globallogic-founded-by-four-iitians-sold-for-rs-2578-crore/articleshow/23753100.cms

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10/9/13

IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore - The Economic Times
Readers'opinions(10)
NEWEST OLDEST RECOMMENDED(1) MOSTDISCUSSED AGREE DISAGREE LOGGEDINCOMMENTS NEW!

AshishRaj (Delhi,India) 11Followers 39Minutesago Silver:3967

alossforindianeconnomy??pleaseletmeknowwhateffectitwillbeonindian economy..?

Agree(0) Disagree(0) Recommend(0) Offensive

VipinVasudevPai (Gurgaon) 23Followers 2Hoursago Silver:3812

WeneedmoreGraduatessettinguptheirownventures...

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KumarSumit (Bangalore) 13Followers 2Hoursago Silver:3285

weneedmoresuchindiancompanies

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SreenivasRajan (Ahmedabad) 9Followers 3Hoursago Silver:3102

Govtshouldsupporttheseentrepreneurs

Agree(2) Disagree(0) Recommend(1) Offensive

AjayKapoor (Delhi) 29Followers 3Hoursago Gold:12K

thentheysaythatIndiahasdearthoftalent.

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M (Delhi) 4Hoursago

Whyisthepressplayingup'IITian'pedigreeinthedeal.Ifthecompanywasfoundedby PunjabUniversitygraduates,itwouldhavesoldforevenmore.Doesn'teverybodyand TimesHigherEducationrankingsknowthatPunjabUniversityisbetterthanallIITs???

Agree(2) Disagree(8) Recommend(2) Offensive

ShardulKulkarni (Pune) 17Followers 4Hoursago Silver:4112

terrificdealsarebeingstruckbyIndiancompaniesrecentlyandthisoneisanother additiontoit.

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COLRANBIRLAMBALamba (PTA) 458Followers 6Hoursago Platinum:76.3K

valuationsnotavailableofdeals

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economictimes.indiatimes.com/tech/ites/it-outsourcing-firm-globallogic-founded-by-four-iitians-sold-for-rs-2578-crore/articleshow/23753100.cms

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10/9/13

IT outsourcing firm, GlobalLogic, founded by four IITians sold for Rs 2,578 crore - The Economic Times
NarayananNachiappan (Chennai) 15Followers 7Hoursago Silver:2455 Agree(0) Disagree(0) Recommend(0) Offensive
3 1 3

Gooddealfortheinvestorsofgloballogic

K.Gopalan.Gopalan (Bengaluru) 16Followers 8Hoursago Gold:6579

Itispertinenttoknowhowmuchdid4IITiansgotfromthedeal..

Agree(1) Disagree(1) Recommend(0) Offensive

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