"Global Logic taken over by Apex Partners in Rs. 2578 crores"

Global Logic taken over by Apex Partners

Global Logic, a famous IT outsourcing firm has been taken over by Apex partners in an over $400 million deal.

The IT firm was primarily a joint endeavor of four engineers who have now progressed to their next project.

Instituted by two mates from IIT Delhi, Rajul Garg and Tarun Upadhyay, the venture was further joined by

associates from Wipro, Sanjay Singh and Manoj Agarwala . The focal point was to cater outsourced product

development to US firms.

Garg is the only one of the four engineers presently based in India. He always had the passion of doing

something related to India and hence initiated a business school with Dinesh Singh, who is also an IIT pass out.

The other two, Singh and Aggarwal, who were basically stationed in the US and dealing with the sales operations

have incorporated a software association, hcentive which targets the US healthcare industry.

At the time of inception, Tarun and Garg were in their early twenties and Manoj and Sanjay were 7- 8 years older,

while Peter Harrison carried over 15 years of experience and hence became the first CEO. Within a year of its

establishment, they also introduced a venture capital firm, New Atlantic Ventures. The firm has several accolades

to its credit-

The creators preferred to opt for second and third round of funding regardless of earning good revenues

after the first few years. The investors in the later rounds included

Shashikant Chaudhary joined Global Logic after his firm, Lambent was taken over by the company and

as quoted by him, the creators aimed at quick advancement rather than taking it slowly. The firm made

worldwide acquisitions

The firm is privately held and hence the revenue figures are not disclosed but business estimates indicate

it at a $250 million plus mark. Chaudhary, currently the managing director in India was propelled to carry

on with the company seeing its progress.

Garg , the leader of operations and M&A, quit the management in 2008 to satisfy his urge of doing something

related to India. He was chased by others too within a year. He has 4- 5 angel investments to his credit one

of it being in Cygnus Medicare, primarily associated with taking control of struggling hospitals.