In The Spotlight Zensar Tech to spend Rs 450 cr on acquisitions 14th July 2010 | Financial Chronicle
Pune: Zensar Technologies, the leading global IT and BPO services provider based in Pune, will shell out around Rs 450 crore to acquire two-three IT firms this financial year. “We have shortlisted two American and one Indian IT firm for acquisition this financial year to build domain expertise with an investment of Rs 450 crore,” Ganesh Natarajan, vice-chairman and CEO of Zensar said after the 47th annual general meeting on Tuesday. The acquisition will help the IT firm focus on developing a high growth strategy that would help position the company as a top contender for large deals in IT and BPO by 2013, he said. Zensar saw a strong net income growth of Rs 127.56 crore, a 47 per cent year-on-year growth and revenue of Rs 952.76 crore, a 5 per cent growth year-on-year. He said the company would also focus on emerging markets of South Africa, China, the Gulf and Europe to drive new businesses. “We will set up a wholly-owned subsidiary in Shanghai, China, in the second quarter with 150 people to service IT requirements of MNCs operating in and around Shanghai,” he said. The company will also foray into cloud computing to tap the large SME segment in India. “We are already running a pilot project and by the end of this year, we plan to tap over 150 mid-size and small companies,” he said. Natarajan said the company plans to increase its India revenue from Rs 43 crore to over Rs 100 crore by 2011. “Our business in Africa crossed the Rs 100 crore mark in two years and we want to achieve it from the Indian market,” he said. Parul Vaidya - Market Innovation Group, Zensar Technologies,
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