Infosys Looking for Acquisitions

Infosys Technologies Ltd., India’s second largest software exporter by revenue, is looking for small acquisitions in the range of $100 million to $200 million, Chief Financial Officer V. Balakrishnan said Monday.

Infosys, which last year opted out of the race to buy UK-based Axon Group PLC after it was outbid by smaller rival HCL Technologies Ltd., has been looking for acquisitions to lower its dependence on the U.S. and the banking and financial services industry, which have been the worst hit by the global crisis.

“Our acquisition strategy is to fill in gaps in our existing portfolio in terms of geographic presence, services and vertical portfolio,” he told Dow Jones Newswires.

Read original article

This article was originally posted on WSJ.com