Private equity firm Kedaara has acquired a majority stake in Great Software Laboratory (GS Lab), a digital product engineering services company based in Pune. GS Lab said it would aim to accelerate business growth by leveraging global relationships of Kedaara and Clayton, Dubilier & Rice, a global private equity firm and JV partner of Kedaara.
GS Labs is an 18-year-old technology company founded by Sridhar Shukla and Sunil Gaitonde with 1,600 people. “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,” Shukla said.
GS Lab works through the entire software development cycle, from ideation through design, development, execution, deployment, and support with capabilities in cloud, identity management, security, IoT, AI/ML and data sciences.
Kedaara MD Parin Mehta said digital transformation was one of the key investment themes for them and they would partner GS Lab to support development of digital software products for their clients worldwide.
Pramod Bhasin, operating partner, Kedaara, 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.”