ChrysCapital invests $63 million in Infogain

NEW DELHI: Private equity company ChrysCapital has invested $63 million (about Rs 403.99 crore) in Business and IT consulting firm Infogain, propelling the latter's growth plans.

"This infusion of capital will enable Infogain to broaden its solution offerings, pursue strategic acquisitions, explore new geographies and accelerate the expansion of its employee base," Infogain said in a statement today.

ChrysCapital, managing assets of $ 2.5 billion, has been amongst the most prolific investors in the IT services space with investments in companies such as HCL Technologies, LiquidHub, KPIT Technologies, Cyient, Mphasis and Spectramind.

"ChrysCapital's support will help our firm grow organically and through strategic acquisitions. Additionally, we will leverage opportunities to further diversify into next generation service offerings such as the customer experience, cloud services and end-to-end retail solutions," Infogain CEO Kapil Nanda said.

Headquartered in the Silicon Valley, USA, Infogain said it has more than doubled its revenue in the last five years and remains one of the fastest growing IT services firms, with growth rates that are 50 per cent higher than the industry average.

"Infogain has demonstrated industry leading growth rates, while building significant differentiation in the software product engineering and new-age, digital service lines. The company is an ideal platform to build further scale through a combination of organic growth and strategic acquisitions," ChrysCapital Managing Director Sanjay Kukreja said.