India's Zensar targets U.S. deal by year end

(Reuters) - Indian IT outsourcing company Zensar Technologies is looking to spend up to $60 million on an acquisition this year to boost its presence in the United States, chief financial officer S. Balasubramaniam told Reuters on Friday. The company is talking to several targets that are niche firms in two areas: consultancy and services around SAP AG's business management software, and data compliance, Balasubramiam said. "We will do an acquisition anywhere between $30 million to $60 million," he added. Zensar has 2 billion rupees ($36 million) in reserves and will make the acquisition via a combination of its own money and loans raised in the United States, the CFO said. About Zensar Technologies (https://www.zensar.com/) Zensar Technologies is among the top 20 software services providers from India. Zensar is the world's first enterprise-wide SEI CMM Level 5 company and was also later certified as a CMMI Level 5 company with industry expertise that spans industries including retail, manufacturing, banking, insurance and healthcare.
An RPG Group company, Zensar has more than 7000 employees with a sales and operations presence across the U.S., the U.K., Europe, Middle East, South Africa, Singapore, Australia, China and Japan. The Company delivers comprehensive services in mission-critical applications, enterprise applications, e-business, BPM and Knowledge Services. Zensar has developed tools and methodologies, including the proprietary Solution BluePrint (SBP), which enables its clients with innovative business solutions and a rapid ‘go-to-market’ capability. The Company supports Fortune 500 clients with software business solutions that help them compete in the digital economy. For further information, please contact: Janki Sampat Market Innovation Zensar Technologies +91-20-66057511/ +91-9764005810 email: janki.sampat@zensar.com