L&T Infotech, the IT arm of the engineering major L&T, has drawn up an inorganic growth strategy to boost its revenues from the BFSI segment and foray into the lucrative telecom billing and services space.
The firm will look for targets that are $ 50 million or lesser in revenues, but the overall kitty for its acquisitions could swell up to $ 150 million.
BFSI is the largest vertical for all the IT services firms. However, it accounts only for about 25% of revenues for L&T Infotech. In BFSI, the company is especially keen on investment banking although it is open to other opportunities as well. Currently, manufacturing accounts for 50% of the firm’s revenues, and the telecom vertical for another 25%.
In December 2006, L&T Info had acquired the US-based GDA Technologies an electronics design firm with over 350 employees. Its current acquisition strategy will also be focused on the US, and Magapu said the company would prefer to acquire a firm without an India footprint because it could add value with its offshore presence.
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