Thursday, November 11, 2004

GE Sells India Outsourcing Unit

INDOlink reports General Electric sold a majority stake in its Indian outsourcing arm for $500m to two private equity firms. The deal gives US-based General Atlantic Partners and Oak Hill Capital Partners a 60% stake in GE Capital International Services (GECIS).

GECIS is a pioneer in the lucrative global outsourcing industry. GE was one of the first American companies to outsource back-office work to India in an effort to save costs. GECIS employs 17,000 people, some 12,000 of whom are in India.

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