Brigade Corp gets $50m investment
By Our Corporate Bureau | 07 Feb 2002
Mumbai: General Atlantic Partners LLC has committed an investment of $50 million to the Brigade Corporation, a global provider of business process outsourcing and customer relationship management.
The offer is the largest ever for an IT-enabled services company operating in India. With this commitment the company will look forward to building a global service delivery system for business process outsourcing in multiple cities throughout India.
The company has centres in Chennai and Hyderabad. Compaq is one of its major clients. Brigade is looking forward to acquire the back-office operations of Fortune 500 companies. It has already put in place a special team to look for acquisitions.
Brigade Corporation had raised a total of $65 million during 1999-2001. The company has been investing in both back-office and front-office systems. It is exploring the possibility of having its own ISP service so that it need not depend on VSNL to offer uninterrupted service to the customers.
General Atlantic has around $1 billion under management and is the world's leading private-equity firm with an exclusive focus on investing in information technology and communications businesses globally.