MindTree Consulting Ltd is actively scouting for acquisitions in the telecom and home appliances space, and is likely to finalise a deal before the end of this fiscal.The Bangalore-based IT consulting firm, which raised Rs 200-odd crore early this year through an IPO, is looking to grow inorganically to enhance its delivery capacity in niche areas.
“At any given point in time, we are evaluating 2-3 targets. We will surely be making an acquisition during this fiscal. It will be a niche company to fill up gap in our current offerings. The buyout will be done to enhance our delivery capacity and not to expand our market,” said S Janakiraman, president and CEO, research and development services, MindTree Consulting Ltd.
Janakiraman said the size of the deal would be anywhere between $5 million and $10 million, and could even be bigger if it fulfils the requirement of the company.And since the acquisition will be driven by the intent to improve delivery capacity, Janakiraman said it would either be in India or any other low-cost country.
Read more in The DNA Money article.
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