Gecis of Delhi, India, says it has acquired Creditek Corp., a Parsippany, N.J., provider of order-to-cash and receivables-management services. Terms of the deal weren't disclosed. Creditek's "strong domain expertise and U.S. presence" made it an attractive target for the company, says Pramod Bhasin, Gecis' president and CEO.
It's likely that Gecis will consider acquiring other vendors that will enhance the company's ability to provide outsourced business services in fast-growing areas such as finance and accounting, Bhasin says.
Gecis will soon reveal a new name and branding initiative to establish its presence as an independent service provider. Last year, private equity firms General Atlantic and Oak Hill Capital Partners purchased 60% of the company from GE. The marketing campaign may be more low key than those conducted by some of the company's rivals, Bhasin says. "I can't afford Tiger Woods," says Bhasin, referring to Accenture ads featuring the champion golfer. Bhasin says Gecis should be fully relaunched "in about four weeks."