Facebook Twitter google+ RSS Feed

$350Mn Deal: Infosys, Wipro, TCS and HCL Tech Eyeing Acquisitions in Europe

cmt right
Comment Right
cmt right
cmt right
Printer Print Email Email

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.

Also Read: Microsoft and its 14 Biggest Investments

Also Read: 10 Pioneers Of Cloud Computing

next new
Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Sr. Executive
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
Reena Khanna
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset