Press Release 2007
Goldman Sachs leads 25 million dollar investment round in CSS
April 16, 2007
Best-of-breed provider of IT operations, testing & product support to invest in growth
SAN JOSE, Calif., April 16, 2007 — Cybernet-SlashSupport (CSS), a leading global provider of outsourced technology operations management services, announced a funding round led by Goldman Sachs totaling $25 million.
The funds will be used by CSS to make additional investments in its global delivery infrastructure, recruitment and training, to expand sales and marketing, and to pursue strategic acquisitions that further the company’s mission of helping its customers drive technology adoption.
CSS employs close to 5,000 professionals and has offices in the US, Europe and Asia, including offshore delivery centers in Chennai and Coimbatore, India. Its portfolio of technology operations management and testing/QA services already has an impressive roster of clients, including Nortel, Blackboard Inc., NTT and Alcatel-Lucent. In January, the company announced it was awarded a multi-year contract to support products across Nortel’s enterprise voice and data portfolios.
"CSS is delighted to have the world's leading investment bank as an investor," said Shiva Ramani, CEO and co-founder of CSS. "Their decision to invest in CSS is a testament to the capabilities of our people and the robustness of our global delivery methodology, and reflects the potential for growth in the market segments we target."
The total global remote infrastructure management market and operations management market has been estimated at $55 billion by the Indian software and IT services association NASSCOM. Research firm IDC has predicted that 85% of IT infrastructure can be managed remotely, and Gartner Inc., has called it the fastest growing segment of the IT services market.
Ramani added, "We at CSS owe our success to our commitment to customer satisfaction and demonstrated execution capability. Our customers appreciate CSS' long-term partnership approach and excellent technical skills, and are particularly happy with the cost effectiveness and quality of services. This is a strong foundation to build a great company on."
Media Contacts
US:
Mike Sherrill, Gutenberg Communications, New York
Tele (212) 239-8741
Email msherrill@gutenbergpr.com
INDIA:
S. Prabhu, Ogilvy PR Worldwide, Chennai
Mobile +91- 94440 40748
Email s.prabhu@ogilvy.com
About CSS
CSS is a leading provider of global technology operations management services with close to 5,000 employees and offices in North America, Europe, and Asia, including world-class offshore delivery centers in India. Driven by a corporate mission of “100 percent referenceable customers”, CSS is committed to building long-term client partnerships that maximize quality, availability and reliability while minimizing costs and risks for its clients. CSS supports and manages technology infrastructure platforms and applications for Fortune 2000 companies, and provides testing/QA and support solutions for products and applications from ISVs and consumer technology providers. www.csscorp.com
About Goldman Sachs
Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net-worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.
