GSS Infotech
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| Company type | Public |
|---|---|
| BSE: 532951 NSE: GSS | |
| Industry | Information technology |
| Founded | 1999 |
| Headquarters | Hyderabad, India |
Area served | Worldwide company |
Key people |
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Number of employees | 103 (March 2021 - Annual Report 2020 - 2021) |
| Website | gssinfotech.com |
GSS Infotech (formerly "GSS America") was established in 1999, as an information technology company headquartered in Hyderabad, India. The company provides services related to cloud computing, remote infrastructure management, virtualization, application management, and other services.
GSS Infotech has offices in Connecticut, New Jersey and Hyderabad.
History
[edit]GSS Infotech was formed in 1999 as "GSS America". On 10 March 2011, the company was renamed "GSS Infotech".[1][2] GSS Infotech offers services primarily to telecommunication, banking and financial services, insurance, healthcare, retail, and government organizations. In 2006, the company established a Global Delivery Center in Hyderabad, India and became a CMMI Level 5 company in 2011.[citation needed]
In November 2010, GSS America Infotech Ltd. acquired US based companies with revenues of $30 million to increase its portfolio.[3][4]
In GSS Infotech's annual meeting in December 2010, the company passed the resolution to raise around Rs 337.50 crore ($75 million) by means of foreign currency convertible bonds, American Depository Receipts or other instruments.[5]
Revenue
[edit]GSS Infotech net profit rose by 0.40% to Rs 2.50 crore in the quarter ended December 2010 as against Rs 2.49 crore during the previous quarter ended December 2009. The sales increased by 71.88% to Rs 17.79 crore in the quarter ended December 2010 in contrast to Rs 10.35 crore during the previous quarter ended December 2009.[6]
GSS Infotech net profit rose by 70.73% to Rs 2.80 crore in the quarter that ended March 2011 as against Rs 1.64 crore during the previous quarter.[7]
Acquisitions
[edit]- In 2006, GSS Infotech acquired Infospectrum Consulting Inc, a business service management (BSM) solution provider based out of Illinois, USA.[8][9]
- In 2008, GSS Infotech acquired System Dynamix Corporation, an IT consulting and software development company based in Connecticut, USA[10]
- In 2009, GSS Infotech acquired ATEC Group, an infrastructure technology solution provider based out of New York, USA.[11][12]
- In 2010, GSS Infotech acquired Veloce[13][14]
- In 2019, GSS Infotech acquired Nexii Labs[15]
- In 2021, GSS Infotech acquired Polimerras.[16]
Recognition
[edit]- Forbes' list of Asia's 200 Best Under $1 Billion 2008[17]
- Forbes' list of Asia's 200 Best Under $1 Billion 2009[18]
- Forbes' list of Asia's 200 Best Under $1 Billion 2010[19]
References
[edit]- ^ oneindia. "GSS America - Change of Name of the Company".[permanent dead link]
- ^ "GSS America Infotech changes its name". Archived from the original on 28 March 2012.
- ^ Sulekha Money. "America Infotech to buy 30 million revenue companies in US".[permanent dead link]
- ^ NDTV Profit. "GSS America Infotech buying 30 million revenue companies in US".
- ^ "GSS Infotech gets nod to raise Rs 337 crore". Archived from the original on 21 March 2011.
- ^ edelweiss. "GSS America Infotech net profit rises 0.40% in the December 2010 quarter".
- ^ edelweiss. "GSS Infotech net profit rises 70.73% in the March 2011 quarter".
- ^ Infospectrum Consulting Inc. "GSS America acquires Infospectrum Consulting".[permanent dead link]
- ^ Free Press Release. "Infospectrum Consulting Adopts GSS Infotech Brand".
- ^ Capital Market. "GSS America Infotech - Acquisitions drive growth". Archived from the original on 28 March 2012.
- ^ Bloomberg. "ATEC Group to Contribute to Growth of Capital Region Economy".
- ^ "Global software company acquires Colonie's ATEC Group". 11 November 2009.
- ^ R K Global. "Investment Strategy: Importance of siblings". Archived from the original on 28 March 2012.
- ^ Velocé. "Velocé Group has become GSS Infotech".
- ^ "GSS Infotech acquires Nexii Labs". 15 October 2018.
- ^ "GSS Infotech to acquire Polimeraas for ₹250 crore". 6 December 2021.
- ^ The Economic Times (11 September 2009). "20 Indian cos in Forbes 'Best Under A Billion' list". The Times Of India. Archived from the original on 9 May 2012.
- ^ Hindustan Times. "20 Indian companies in Forbes 'Best Under A Billion' list". Archived from the original on 25 January 2013.
- ^ Forbes (1 September 2010). "Asia's 200 Best Under A Billion". Archived from the original on 3 March 2016. Retrieved 28 August 2017.