‘We’re on lookout for good acquisitions’ | business | Hindustan Times
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‘We’re on lookout for good acquisitions’

business Updated: Dec 20, 2010 21:54 IST
Vivek Sinha
Vivek Sinha
Hindustan Times
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MindTree, a mid-sized IT company with R1,233 crore revenue in the last fiscal, feels size does not matter for ambitious growth plans. Ashok Soota, the company’s executive chairman, told Hindustan Times in an interview that there remains ample leg-room for mid-sized IT companies alongside industry leaders. Excerpts:

A lot had been made about the visa issues in the US along with protectionist noises in other developed countries. Does this concern you?
Whenever there have been protectionist noises in the developed world, it has actually worked to the advantage of Indian IT sector. The development of outsourcing capabilities is a case in point. Today, India has become a base for larger companies such as IBM. So this is just a passing phase and not much should be made about it.

But are you not worried because around 63% of your revenues come from US?
Not really. US will continue to remain our key region. We are also spreading to other regions such as Europe and Asia Pacific.

So after five years, how would your regional revenue break up look like?
Over the next five years our revenue break up from the US, Europe and Asia Pacific would be 60:20:20.
Are you also looking at acquisitions? If yes, what could be the deal size?
We are constantly on a look out for good acquisitions but until we find a relevant company we will not bid for it. However, the sweet spot for our acquisitions will be in the price range of $30 million (R130 crore) to $80 million (R360 crore) especially in the infrastructure support.