Infrasoft Technologies, a Mumbai-based banking products software firm, is close to acquiring a firm each in the UK and West Asia. |
The company plans to acquire at least one of the firms by the end of the next quarter. |
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The value of the UK deal is expected to be around $15 million (Rs 60 crore) while the acquisition in West Asia is valued at $7-8 million (Rs 30 crore). Both firms will give Infrasoft access to bluechip clients and capabilities in investment banking. |
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The slowdown in the US has impacted the company's decision to expand its footprint in that geography. |
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"We have put our decision of acquiring a US-based firm on hold for some time. The financial sector in the US has seen a bit of a slowdown. Besides, firms in US are very onshore business-driven," said Hanuman Tripathi, CEO and managing director, Infrasoft. The company will consider a US acquisition after two quarters. |
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The company is also improving its focus on the Indian market. It has launched offerings of products and services for the Indian market. |
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