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2015-02-23

Infosys looking for more strategic buyouts: Vishal Sikka

Sikka, will be able to leverage Infosys\' $500-million start-up fund as well as about $5 billion of cash on its books to buy the kind of firms he is scouting for.

India's leading IT services firm Infosys is evaluating a dozen startups for more strategic buyouts in a bid to gain an edge over its competitors.

After its big-ticket acquisition of US-based automation technology provider firm Panaya last week, CEO Vishal Sikka shared the firm's plans to gain from the cutting-edge technology such as automation and artificial intelligence (AI) via such buyouts.
   
"We have a dozen targets that we are looking at now. Anytime we see a company with talent, capabilities and IP in AI and collaboration technology space, we would love to go for an acquisition," Sikka told ET, days after the software company bought automation startup Panaya for Rs 1,200 crore ($200 million).

Sikka, will be able to leverage Infosys' $500-million startup fund as well as about $5 billion of cash on its books to buy the kind of firms he is scouting for.

Recently, Infosys announced a multi-year, multimillion-dollar partnership with ABN AMRO, a leading retail and commercial bank, to provide IT services for the bank’s operations. As part of this, Infosys, as one of the strategic partners of ABN AMRO, will deliver services across application development and maintenance, testing and product implementation.

Sikka, since taking over as CEO in August, has been putting together the key pieces of his strategy for a new Infosys, scrapping the previous 3.0 plan that was blamed for slowing revenue growth. He has handpicked some of the enterprise technology world's best-known leaders from SAP, including Abdul Razaaq, Michael Reh and Ritika Suri, and promoted some company veterans to lead new units in an internal shuffle announced last week.

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