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Mphasis plans to acquire cos with over $100 Million revenue
By siliconindia
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Friday, 27 August 2010, 15:54 IST
Bangalore: Mphasis wants to establish its presence in financial, telecom and healthcare services and is now in plans to acquire companies with annual revenue of $50 million to $100 million. The acquisition would be made by using the cash reserve of $320 million available with Mphasis.
Prior to this, the mid sized Indian outsourcer get two thirds of its revenue from the U.S. and had bought AIG's Indian IT services last year. This year, in April it took over Fortify Infrastructure Services for $15.5 million.
"We have been playing in the sub-$50 million so far. Now we are looking for anywhere between $50-100 million," said Ganesh Ayyar of Mphasis. The company is in plans to build a facility in Europe to cater to the European clients and this plan will be implemented by January.
The company's share increased by 4.5 percent to 
636.65. "We expect the pricing to remain stable in the three months ending October," said Ayyar.
636.65. "We expect the pricing to remain stable in the three months ending October," said Ayyar.