Thursday, July 14, 2005

Gecics Global aquires Creditek Corp.

Ahead of a major rebranding initiative, Gecis Global, the former business-process-outsourcing arm of General Electric Co., has made its first acquisition since spinning off from its parent company about six months ago. It has acquired Creditek Corp., a Parsippany, N.J., provider of order-to-cash and receivables-management services. Gecis is expected soon reveal a new brand name and branding initiative to establish its presence as an independent service provider. Last year, private equity firms General Atlantic and Oak Hill Capital Partners purchased 60% of the company from General Electric.