Infosys Technologies, India's second-largest IT exporter, is planning to acquire 'strategic assets' overseas. However, it does not intend to go in for big bang acquisitions like that of Axon, the bid for which fell through owing to a competing bid by another Indian IT outsourcing services provider HCL Technologies.
The Bangalore-headquartered company is believed to be evaluating two-three companies, which are in the revenue bracket of $100-200 million to eliminate some gaps that exist in its services offerings and increase focus on certain verticals, which have been least affected in the midst of the economic slowdown. It's reliably learnt that the company is looking at healthcare and energy and utilities as the two major areas for possible acquisitions.
So far, Infosys has made two successful acquisitions including the acquisition of Australian firm Expert Information Technologies for close to $23 million in 2003, and Philips' global BPO operations in 2007. At the end of the third quarter in the current financial year, Infosys had a cash reserve of about Rs 8,463 crore (Rs 84.63 billion).