Apax buys GlobaLogic for 420 million.

ApaxGlobal LogicApax Partners has reportedly acquired GlobalLogic, an IT outsourcing firm co-founded by 4 Indians. The co-founders of the company are graduates from IIT. Apax Partners LLP is an UK-based private equity and venture capital firm, with headquarter in London, England. This buy has marked the biggest India exit deal for venture capitalists this year.  GlobalLogic, founded by Rajul Garg, Sanjay Singh, Manoj Agarwala and Tarun Upadhyay has its own unique hybrid business model. “It is one of the leaders in outsourced product development services. This is an emerging sector which we were keen to invest in,” Shashank Singh, MD, Apax Partners, told TOI. The company which was found in 2001 as IndusLogic  later renamed GlobalLogic has been giving a tough competition to companies like Symphony Technology and Persistent Systems. Indians have been affecting the global IT industry around the world greatly, last week Google bought the gesture recognition program, Flutter.
Howdy! I’m Apurva Nagar a Blogger, Technology Geek, and Coding Enthusiast. I simply love anything related to computer science. I am the Founder and Admin. of Electric Web – An online tech. magazine for geeks.

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