Infosys plans acquisitions; looking at $450-500 mn deal | kolkata | Hindustan Times
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Infosys plans acquisitions; looking at $450-500 mn deal

kolkata Updated: Aug 05, 2009 15:06 IST

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Infosys Technologies is looking to acquire IT companies serving energy and health care sectors in geographies as diverse as Latin America, Europe and Australia and has set aside $450-500 million for the purchase.

The acquisition will help India's second largest software exporter to diversify 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 Kris Gopalakrishnan told reporters at the ICT East-2009 event organised by CII.

The geographies the company is looking at also includes the Middle-East 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, but Gopalakrishnan did not say by when it would happen.

The rest of the world accounts for 10 per cent of the revenue and this, he said, is expected to rise to 20-30 per cent. Besides, the software maker is hoping to tap the services market in India.

Indian operations contribute just two per cent of the revenue and that too mostly from 'finacle' - the company's over-decade-old banking product.

Infosys posted a 17.3 per cent rise in first quarter net profit, beating market expectations.