| Infosys to close Rs 6,000cr deals in 10 months |
| BS Reporter / New Delhi October 30, 2007 |
| Infosys, India's second largest IT services provider, is expected to close 15 big deals over the next 10 months -- each worth $100 million or more. The company hopes to finalise many other deals during the same period -- the average size of each would be in the region of $10-15 million, according to S Gopalakrishnan (Kris), CEO and managing director, Infosys. "We expect fewer multi-year, billion-dollar deals in the future," he said. The company is also open to acquisitions "if a match is found," he said. The company -- which had cash reserves of Rs 7,319 crore as on September 30, 2007 -- has set aside around $500 million for acquisitions. The company has identified three to five potential acquisition targets including one consulting firm. When compared to other Indian IT companies like TCS and Wipro, Infosys is not strong in the merger and acquisition game. In July earlier this year, the company bought the finance and accounts BPO centres of Royal Philips Electronics for Rs 110 crore. It also won a $250 million contract from Philips in the process. Prior to that, Infosys had acquired Expert Information Services in Australia for around Rs 104 crore ($22.9 million) in 2003. Infosys |
