Kedara acquires majority stake in Great Software Lab

GS Labs, which has grown at over 20% over the past five years, aims to use investments from Kedara to accelerate business growth by leveraging the global ties of the PE firm and its partners.

Sridhar Shukla and Sunil Gaitonde, Co-Founders, GS Labs, said, “Over the past 18 years, we have transformed GS Labs into an innovation-led organization of 1,600+ individuals. “The investments by Kedara help us build further on our strengths. and take advantage of the growing need for innovative software and digital solutions across industries globally and in India by leveraging Kedara and CD&R’s extensive network and relationship.”

Digital product engineering services is a high growth sector globally. According to Nasscom, India’s engineering R&D sector is expected to grow from $31 billion in 2019 to $65 billion by 2025 at a CAGR of 13%. This development is being fueled by rapid digitization across the industry verticals.

India is uniquely positioned to seize this opportunity and support global multinational companies (MNCs) with their digital transformation efforts, which have a strong emphasis on innovation, a large and diverse talent pool and ability to deliver differentiated service delivery. Strong attention has been given.

“It is quite clear that digital is becoming the main driving force for businesses across the globe. With a strong product DNA and IP-led culture, GS Labs is well positioned to be one of the leading digital engineering service providers out of India. Kedara’s operating partner Pramod Bhasin said.

GS Lab works through the entire software development cycle from idea to design, development, execution, deployment and support. Its team of engineers and product architects provides capabilities across all areas to its clients in cloud, identity management, security, Internet of Things (IoT), artificial intelligence/machine learning (AI/ML) and data science. The company aims to differentiate itself through its innovation-led R&D culture with a comprehensive set of IP-powered in-house accelerators.