Hyderabad based Mordor Intelligence, has made a strategic investment in the Global Market Insights (GMI) Group by acquiring a 51 per cent equity stake for an undisclosed amount, with plans to acquire an additional 25 per cent by March 2024. The combined entity has targeted a USD 400 crore turnover in the next five years.
“Clients today want more in-depth market intelligence, and it requires significant investments in human capital over the long-term. We believe this new investment underscores our growth vision, and the tremendous opportunity ahead. We are now well-positioned to solve the demanding needs of the industry, and to become a front ranking player with expanded offerings,” Bharadwaj Reddy, Founder and CEO of Mordor Intelligence stated.
Furthermore, Reddy adds, “We’re on a trajectory to expand our workforce to over 2,000 within the next five years from our current combined team of 750 professionals. Going forward, our growth will be dynamic, driven by both organic and inorganic avenues. This acquisition, to be the first of many, is just the beginning, in our quest to be the best-in-class go-to-market intelligence company.”
Charanjeet Ailsinghani, asserts, “The synergy with Mordor Intelligence will fuel rapid growth in business, drive innovation, and propel GMI to exceed Rs 100 crore in turnover within three years.”
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