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Infrasoft eyes buys in UK, W Asia

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Shivani Shinde Mumbai
Last Updated : Feb 05 2013 | 3:21 AM IST
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.
 
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.
 
The slowdown in the US has impacted the company's decision to expand its footprint in that geography.
 
"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.
 
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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