HCL Infosystems eyeing acquisitions in emerging markets
21 Oct 2010
IT firm HCL Infosystems today said it was looking for acquisitions, worth up to $100 million, in emerging markets like Africa to globally expand its footprint and strengthen its services portfolio.
HCL Infosystems chief executive officer Harsh Chitale said, the company was looking at opportunities across emerging markets like Africa and Middle East.
"We are looking at acquisition opportunities that would help us get into additional services or something that helps us in geographic expansion," HCL Infosystems chairman Ajai Chowdhry told reporters in New Delhi.
The company's current services offerings include system integration, IT infrastructure consultancy, ERP consulting, IT audit and managed services.
HCL Infosystems had raised around $200 million last fiscal in a bid to expand operations and finance acquisitions.
Responding to a question about the African market Chowdhary said the continent offered great opportunity as labour cost arbitrage and environment was similar to that of India.