ITC Infotech looks to buy 'sub-$50 mn' firms to boost digital capabilities

IT industry is witnessing major disruption due to increasing demand for digital technology services

ITC Infotech, a wholly owned subsidiary of ITC Ltd, plans to acquire smaller companies worth about $50 million (Rs 332 crore) to boost its digital technology capabilities. 

The mid-tier information technology (IT) services company is looking at firms that can solve problems of its clients and co-innovate in areas such as artificial intelligence, internet of things (IoT) and data engineering. 

“We think the kind of companies that we will buy will be in the sub-$50 million range. Things that (can) give us unique capability, but do not hit profitability,” said Sushma Rajagopalan, managing director and chief executive officer, ITC Infotech.

“We will put