Goldman Sachs invests $25 million in CSS

Goldman Sachs invests $25 million in CSS

Tuesday, 17 April 2007, 07:00 Hrs
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Chennai: Cybernet-SlashSupport (CSS), a provider of outsourced technology operations management services, Tuesday said it has received funding worth $25 million into the company led by Goldman Sachs.

The funds will be used to make additional investment in CSS' global delivery infrastructure, on recruitment and training, to expand sales and marketing, and pursue strategic acquisitions, the company said in a statement.

The company has close to 5,000 professionals with offices in the US, Europe and Asia, including offshore delivery centres in Chennai and Coimbatore.

Speaking about the firm's offshore expansion, CSS co-founder and chief executive Shiva Ramani said the expansion into Coimbatore, the first offshore unit outside Chennai, had taken off well.

"We have ramped up to close to 200 people there. While we will continue to grow in Coimbatore, Chennai will be the hub of our offshore expansion," he said, and added the company hoped to add another thousand people to staff this year.

With clients such as Nortel, Blackboard, NTT and Alcatel-Lucent, CSS serves the global remote infrastructure and operations management markets, estimated at $55 billion by the National Association of Software and Service Companies (NASSCOM).
Source: IANS
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