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News >> Technology >>
Aztec shortlists acquisition targets
By agencies
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Monday, 12 September 2005, 19:30 IST
CHENNAI: As part of the plans to diversify into segments complementary to its existing service offerings in software product engineering, Chennai based Aztec Software and Technology Services is looking to acquire small software firms.
Aztec has identified allied areas in storage management and embedded systems where it plans to acquire expertise either through the inorganic or the joint venture route, Chief Technology Officer, V.R.Govindrajan said.
"We are evaluating a couple of opportunities in these areas but have not fixed any time-frame as yet for concluding the deal," Govindrajan said.
Aztec acquired Pune-based Disha Technologies, an independent software testing and validation firm last fiscal. "The Disha acquisition has helped us to emerge as a complete lifecycle services provider for our software product engineering clients," he said. With that acquisition, it now offers services that include development, testing, professional services and sustenance engineering covering entire the product engineering lifecycle.
Aztec expects to fund the proposed acquisitions through its cash reserves, said V. Sundararajan, Chief Financial Officer. "If need be, we may raise the money from other sources." The company is also looking at expanding its operations in Pune and Hyderabad, he said.