IT bellwether Infosys Technologies is going for the European market in a big way, shrugging off concerns such as visa restrictions in the UK while eyeing acquisitions and multi-lingual capabilities to expand its footprint in the continent.
The market was substantially ignored during nearly three decades of growth mostly fuelled by US-based clients.
Infosys is looking for small and mid-sized acquisitions while hiring local citizens to break language barriers. The aim is to double the revenue share of Europe, which is around 20 per cent now, over the long term.
It considers UK, Switzerland, Germany and France its key markets in Europe.
"At present we have around 110 clients in Europe and we feel there is a vast potential of large and medium clients across Europe," B.G. Srinivas, member of the company's executive council responsible for Europe, told Hindustan Times.
He said Infosys planned to use its centres in Czech Republic and Poland and also hire more Europeans to build capabilities in local languages.
"We have around 1,000 people in our near shore centres between Poland and the Czech Republic. Plus we have a centre at Mauritius with French speaking nationals who support our business in France and Belgium," Srinivas said.
In acquisitions, it is looking for local firms that bring in clients or own intellectual property that could boost sales.
Tecent visa restrictions in the UK are a matter of concern, but Infosys is not perturbed.
"We are in discussions in an effort to understand the exact purport of the issue," Srinivas said, adding he felt there is no reason to panic.