Hexaware looking at acquisitions in Europe and North America

By SiliconIndia   |   Friday, 16 February 2007, 06:00 Hrs
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MUMBAI: Hexaware Technologies is reconnoitering for acquisitions in Europe and North America, with approx $20-40 million.

The firm is looking at acquiring companies in the services segment, even though it has not shortlisted any company in these continents.

Hexaware Chairman Atul Nishar says, "We are actively looking at acquisitions in the services segment in Europe, mainly in enterprise resource planning (ERP), business intelligence (BI), banking, financial services and insurance (BFSI) and transportation verticals".

The company is on a prowl and intends to acquire a company in this financial year itself. With cash reserves of over $70 million, any acquisition, if finalised, the company intends to finance the deal through internal accruals.

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