Cognizant plans buys abroad

Leading IT services provider Cognizant Technology Solutions is eyeing acquisitions in the consulting domain in the US and European markets to consolidate its business. However, the company did not disclose the deadline it has set for acquisitions.

Lakshmi Narayanan, vice-chairman, Cognizant, told reporters here today that the company is keen on acquiring a firm in the consulting space. "We are looking at specific opportunities in certain geographies," he said on the sidelines of the Nasscom Quality Summit here.

He declined to specify whether the company was in talks with potential firms.

Cognizant is in the process of investing $200 million in creating infrastructure in the country's tier II cities. The company plans to increase its headcount to 55,000 by 2007 end from the current 46,000, added Narayanan.