KUBC.L Regulatory News (KUBC)

30 Jan 2008 07:00

Kubera Cross-Border Fund Limited30 January 2008 30 January 2008 Kubera Cross-Border Fund Limited KUBC acquires 10% stake in GSS America The Kubera Cross-Border Fund Limited ("KUBC") (LSE: KUBC), an investment companytraded on the AIM market of the London Stock Exchange, is pleased to announcethat it has acquired a 10.20% interest in GSS America Infotech Ltd ("GSS America" or the "Company") for approximately US$ 10 million (including the pro ratainvestment by affiliates of Kubera Partners, LLC, the Investment Manager ofKUBC). GSS America is one of India's fastest growing information technology andoutsourcing companies. It specializes in IT infrastructure management services,enterprise application integration and IT consulting, focused on providingscalable and cost-effective IT solutions using the global delivery model. Forthe financial year ended March 31, 2007, the Company reported revenues ofapproximately US$ 42 million and profit after tax of US$ 9 million, and hasachieved revenues of approximately US$51 million and profit after tax ofapproximately US$11 million for the nine months ending December 31, 2007. GSS has filed its Draft Red Herring Prospectus with Securities and ExchangeBoard of India to enter the Indian capital market with an Initial PublicOffering ("IPO") of its equity shares. Kubera Partners, as the investment manager of KUBC, invests in cross-bordercompanies that are Western headquartered and seek to leverage India and Asiabased resources for availability of talent or access to new markets; andcompanies headquartered in India and Asia that seek to expand in Western marketsthrough acquisition or sales force development. Kubera Partners isdifferentiated by the track record of its principals and their complementaryexperience. For more information contact: Kubera Partners, LLC (Investment manager of Kubera Cross-Border Fund Limited)Ramanan Raghavendran, Managing Partner Tel: +1 (212) 295 2400 LCF Edmond de Rothschild Securities Limited (Broker)Hiroshi FunakiTel no: +44 (0) 20 7845 5968 Grant Thornton Corporate Finance (Nominated Adviser)Philip Secrett, PartnerTel no: +44 (0) 20 7383 5100 This information is provided by RNS The company news service from the London Stock Exchange