Country's second-largest software exporter Infosys Technologies is planning to acquire IT companies serving energy and health care sectors in geographies as diverse as Latin America, Europe and Australia. The company has set aside $450-500 million for the purpose.
The acquisition will help Infosys to diversify its client base, especially at a time when growth has been flat from traditional revenue streams like banking, financial services and insurance sector, besides retail and manufacturing.
Infosys is looking at companies serving sectors such as energy and health care, company CEO, Mr Kris Gopalakrishnan, told reporters at the ICT East-2009 event organised by Confederation of Indian Industry.
The geographies the company is looking at also includes the West Asia and Japan, he added. Europe currently contributes 26 per cent of Infosys' revenue and the company is targeting this to go up to 30 per cent. Mr Gopalakrishnan, however, did not mention the timeframe by when the company was planning to achieve that.
On its Bengal plans, the company said it would wait for revival in the economy before going ahead with its expansion plans in West Bengal.
“We need to wait as the situation is not clear,” Mr Gopalakrishnan said. West Bengal IT minister, Mr Debesh Das had earlier said the government would be ready to offer land to Infosys and Wipro by December.
No co-chairman
There were no immediate plans to appoint a co-chairman, a post, previously held by Mr Nandan Nilekani. Mr Nilekani resigned last month.
Thursday, August 6, 2009
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