$350Mn Deal: Infosys, Wipro, TCS and HCL Tech Eyeing Acquisitions in Europe
Bangalore: Lately Europe’s biggest corporations are shedding its offshoring economic reserves pretty aggressively. The move really explains Europe’s need for controlling the expenses. But on the other hand, Indian outsourcing players are on a major buyout spree to build a new front in continental Europe. Companies like Infosys, Wipro, Tata Consultancy Services and HCL Technologies are now actively running campaigns to buy out service providers in France and Germany, reports Economictimes.
According to some trustworthy sources, companies like Infosys, TCS, Wipro and HCL Tech are planning to spend around $350 million on acquisitions, three in Germany and one in France, which are at its final stages. The names of the acquiring companies and deals are yet to be disclosed. But still sources reveal that each acquisition in Germany is valued under $50 million while the one in France is valued at $100 million.
"None of the Indian companies is in the top 30 list from a market share perspective in the IT services market in Germany or France," said Christophe Chalons, chief analyst and member of the board at Pierre Audoin Consultants, a French consultancy and market research firm.
"An acquisition would be the quickest route for the Indian companies to get a local workforce and client relationships," Chalons said.
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