Great Software Laboratory Private Limited (“GS Lab”), digital product engineering services provider, has acquired majority stake in the company by Kedaara, a leading private equity firm. GS Lab has grown at a stellar rate of 20%+ over the last five years.
“Over the past 18 years, we have scaled GS Lab into a 1600+ person innovation-led organization,” said Shridhar Shukla and Sunil Gaitonde, the co-founders of GS Lab. “The investment by Kedaara will enable us to further build on our strengths and take advantage of the growing need for innovative software and digital solutions across industries globally and in India, by leveraging Kedaara and CD&R’s extensive network and relationships.”
Sunish Sharma, Co-CEO & Managing Partner of Kedaara, and Parin Mehta, Managing Director of Kedaara, said, “Digital transformation is one of the key investment themes for us, and we are very excited to partner with the GS Lab team to support their continued development of outstanding digital software products for their clients worldwide. Shridhar, Sunil, Atul and the senior leadership team have truly built a strong platform at GS Lab with exceptional product engineering capabilities, focus on innovation and partnerships with world-class clients.”
Pramod Bhasin, Operating Partner, Kedaara, and former President and CEO, Genpact, said, “It is quite clear that digital is becoming the core differentiator for businesses across the board globally. With a strong product DNA and IP-led culture, GS Lab is very well positioned to be one of the premier digital engineering service providers based out of India.”
GS Lab works through the entire software development cycle, from ideation through design, development, execution, deployment, and support.
“We are very pleased to partner with Kedaara for continuing GS Lab’s growth journey,” said Atul Narkhede, the CEO of GS Lab. “We have built a culture of technological innovation and client centricity. Kedaara has significant experience in scaling businesses while retaining the same entrepreneurial ethos and are an ideal partner for the organization’s next phase of growth.”