Gecis looks beyond GE, targets 25% rise in business

The business process outsourcing company Gecis is targetting a 25 per cent increase in revenues for 2005.

According to the company release, Gecis has outlined ambitious growth plans in Europe, Asia and the Americas as it begins to accept contracts from multinationals beyond GE.

Several new external contracts signed in the fourth quarter are contributing to significant hiring at several locations including Kolkata, where Gecis has just opened a new centre.

Gecis president and chief executive officer Pramod Bhasin, said in the release, "We are now in a position to unleash our full potential in pursuit of external business. We have recently won a few landmark deals in the wake of global competition and are extremely well poised to grow in this segment. Gecis has received tremendous support across GE businesses, and we are confident that we will continue growing our services within GE substantially in the coming years."

Apart from serving all GE businesses, Gecis has a number of important external customers and is already serving clients in the automotive, energy, retail, pharmaceutical and IT sectors with plans to serve many other industries.

The company has also announced that it has completed the transaction with its key shareholders General Electric, General Atlantic and Oak Hill Partners.

In accordance with the terms of the definitive agreement announced on November 8, General Atlantic and Oak Hill each acquired a 30 per cent stake in Gecis, with GE retaining a 40 per cent stake.