Appnet Systems Gets $100 Million Investment
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GTCR's commitment will enable AppNet to leverage the equity infusion with debt capital to pursue an aggressive growth strategy, the company said.
Phil Canfield, a principal with GTCR and a member of the AppNet board of directors, said: "The $100 million commitment we made to AppNet CEO Ken Bajaj and his team illustrates our confidence in Ken's ability to build the premier company in the e-commerce industry. Our capital will allow AppNet the financial flexibility to pursue acquisitions . . . We are actively working with AppNet in sourcing, structuring and closing numerous acquisitions and we look forward to supporting AppNet."
Said Bajaj: "The funding gives us an edge in acquiring additional resources to supplement our capabilities worldwide."