Infosys eyes two European firms

Infosys Technologies is eyeing European software firms BCC and Ciber Novasoft among others as potential acquisitions, the Economic Times said on Monday citing two people familiar with the development. The paper said a final transaction could be some time away, quoting one source as saying there was no agreement yet on the valuations of the two firms.

Poland-based BCC, which has annual revenues of $180-200 million, could cost more than $300 million, the paper quoted a source as saying. Ciber had an annual revenue of almost $75 million, the paper said. Officials at Infosys could not be reached for comment immediately. Both BCC and Ciber provide services to companies using products of German business software maker SAP. Lasy year, Infosys bid for British consultancy and SAP services provider Axon but lost to smaller Indian rival HCL Technologies.