Infosys seeks acquisitions worth up to $700 million.

infosysShanghai: Infosys Ltd, country’s No.2 software services exporter, is seeking acquisitions worth up to $700 million, Infosys’ Executive Co-Chairman Kris Gopalakrishnan said on Thursday.

Infosys has been on the search for acquisitions in the healthcare and life science sectors and is searching firms that have stage or niches in geographies that its lacks.

Gopalakrishnan told to the reporters “Typically, the size we are looking for is up to 10 percent of our revenues so today our revenues are projected to be about $7 billion so up to $700 million.”

“We want to grow our pharma practice, our healthcare practice faster so it’s really to stimulate growth, but strategically. It’s filling in gaps that we have,” he said.

The firm also sees that China has a massive growth market, multinationals and Chinese companies with overseas ambitions looking to implement outsourcing.

“China as an overall subsidiary company, we did about $80 million in revenue and we see that growing at at least 30 percent next year,” said Rangarajan Vellamore, chief executive of Infosys China.

Vellamore also said that existing Chinese clients comprise those in the automotive sector and white-goods manufacturing sector.


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