New Delhi: Infosys Technologies is looking to acquire a SAP integrating company with a similar price tag as Axon Group, in a bid to ramp up its SAP business, a top official said.
The technology firm recently stepped back in making a counter offer for Britain-based Axon Group. HCL Technologies made a counter offer to buy Axon for about $814 million in cash, while Infosys offered $755 million.
Infosys hints at acquisitions in Europe, Japan
“We have to find the right company that wants to be acquired and we feel comfortable integrating … rather than looking at valuations. At around $600-$700 million ticket size acquisition … we feel we can comfortably take a risk for an acquisition,” the Infosys Chief Executive Officer, S. Gopalakrishnan, said on sidelines of World Economic Forum.
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“We are still looking at a SAP integrating firm, other areas we are looking at are BPO, consulting and even geographies like Europe and Japan to ramp up business,” Gopalakrishnan told DNA Money.
The company added that it still has an active acquisition strategy, given the right opportunity. “We have some active pursuits… I cannot share anything beyond that. We are already partnering with some one in Japan, so we might look for an acquisition this time around,” he said.
The company said it has already made 18,000 offers for campus recruitment next year and has not revised salaries down. “We are still growing … if there are changes in hiring strategy that will happen only next year … this year more or less our plans are fixed,” Gopalakrishnan added.