Capgemini eyes $500mn buy in India

French IT consulting giant Capgemini today said it was scouting for a $500-million acquisition in India for which it had shortlisted around ten Indian companies.

"We are negotiating for an acquisition in India which can run up to $500 million...The companies shortlisted include publicly-listed companies," Antonio Schnieder, executive board member of Capgemini SA Paris Group said here.

"The process is in an early stage, and we are negotiating with around ten Indian companies in the field of systems integration," he said, though refusing to divulge further details.

However, Schnieder refused to specify a time-frame for the take over bid to crystallize.

The $ 9-billion firm also has operations in India and employs around 5,000-6,000 people in offices in Mumbai, Bangalore and Kolkata.

Schnieder said the company had concerns regarding the delisting of the acquired company if it was a listed one.