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January 4, 2005

Caritor to form JV with CVC International

IT services company Caritor Inc has won funding from investment group Citigroup Venture Capital International that will enable it to expand its global operations.

By CBR Staff Writer

The San Ramon, California-based company did not disclose any financial details but said that the investment would take the form of joint strategic initiatives by the two companies.

Caritor made sales of $85 million in 2004 and employs over 2,200 employees across its locations in USA, UK, Asia Pacific, Middle East and South Africa.

It has two offshore distribution centers in Bangalore and Chennai and it is thought that it is looking at opening another in Hyderabad, as well as considering expanding into the BPO market.

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