Saturday, March 28, 2009

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Infosys, sitting on $2 bn cash, eyes US bargains

Infosys Technologies expects to find acquisition opportunities in bargain basement America as it seeks to reaccelerate growth in the midst of an ongoing economic slump, co-chairman Nandan Nilekani said on Thursday.

"Acquisitions will definitely be very accessible in this market from a price point of view," Nilekani told the Wall Street Journal. "If it makes sense, we'll do it," he said, adding that Infosys has $2 billion in cash and no debt.

India's second-largest software services company is eyeing firms that operate in the healthcare and pharmaceuticals sectors. V Balakrishnan, chief financial officer of Infosys, told DNA earlier this month that the company was looking at firms in the $100 to $200 million price range as targets.

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