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Infosys CEO Salil Parekh reveals that IT company is eyeing more acquisitions
- IBJ Bureau
- Aug 26, 2024
After two acquisitions this year, India’s second-largest IT services company Infosys is on the lookout to scoop up more firms. The company adds that the acquisition-matching scale of recent in-tech buy is certainly a possibility.
In an interview to the PTI, Infosys CEO Salil Parekh has said that the company is keen on acquisitions in areas like data analytics, SAAS, and may look at some entities within Europe and the US.
Asked if more acquisitions could be of the scale matching in-tech, which came with a price-tag of 450 million euros, Mr Parekh adds: “Absolutely, I think those would be the size that we will look at in terms of scale, and given our structure, we could do a few of those.”
Back in January, Infosys had announced a definitive agreement to acquire 100 per cent of the equity share capital in InSemi Technology Services, a semiconductor design services company headquartered in India, for a consideration (including earn-outs and management incentives and retention bonuses) totalling up to Rs 280 crore. A bigger acquisition followed in three months.
In April, Infosys Germany, a wholly-owned, step-down subsidiary, entered into a definitive agreement to acquire 100 per cent of the equity share capital in in-tech Holding – a leading provider of engineering R&D services headquartered in Germany – for a consideration of up to 450 million euros (about Rs 4,045 crore).
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