GE Completes Global Outsourcing Sale The Associated Press Friday, December 31, 2004; 10:56 AM
NEW YORK - General Electric Co. completed the sale of a majority stake in its global outsourcing business to two U.S.-based equity firms for $500 million, the conglomerate said Friday. General Electric sold a 60 percent stake in GE Capital International Services, or Gecis, to U.S. private equity firms General Atlantic Partners LLC and Oak Hill Capital Partners LLC, which will broaden the customer base for its outsourcing services, General Electric said. General Electric will keep 40 percent of Gecis, based in New Dehli and primarily focused on back office operations for GE and others in India. General Electric has said it will remain the biggest customer as the company expands its client base, adding sectors. General Electric, based in Fairfield, Conn., was among the first U.S. companies to set up business-processing outsourcing operations in India, taking advantage of its large pool of English-speaking workers ready to work for low wages and tech-savvy entrepreneurs. Set up in 1997 in Gurgaon, a town adjoining New Delhi, the company rapidly expanded its operations in the past five years. It employs about 17,000 people in centers located in India, China, Hungary and Mexico. Revenues in 2004 were expected to reach $420 million, compared with $26 million in 1999. The Gecis sale is the largest-ever transaction involving an outsourcing company. Industry executives have said it could signal a wider trend of multinationals selling back-office operations to cut costs. *************************************************************************** Berdikusi dg Santun & Elegan, dg Semangat Persahabatan. Menuju Indonesia yg Lebih Baik, in Commonality & Shared Destiny. www.ppi-india.uni.cc *************************************************************************** __________________________________________________________________________ Mohon Perhatian: 1. Harap tdk. memposting/reply yg menyinggung SARA (kecuali sbg otokritik) 2. Pesan yg akan direply harap dihapus, kecuali yg akan dikomentari. 3. Lihat arsip sebelumnya, www.ppi-india.da.ru; 4. Forum IT PPI-India: http://www.ppiindia.shyper.com/itforum/ 5. Satu email perhari: [EMAIL PROTECTED] 6. No-email/web only: [EMAIL PROTECTED] 7. kembali menerima email: [EMAIL PROTECTED] Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/ppiindia/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
