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With GDP growth of about 9 percent and wider expectations from analysts that in near future Indian economy can rule the globe, Indian business is on a roller coaster ride. Indian business, especially IT and ITeS segment is the backbone of this commendable GDP growth. Although IT sector was doing reasonably well, however it seems retrenchment has hit India also. The Indian counterparts have been constantly appraised, no wonder Indian IT industry has spearheaded towards consolidated global expansion.
Sky is the limit, when you know where you are heading to. Correlating these words with success of Indian IT, these are the key acquisitions made by Indian IT.
1. Infosys, the leading IT giant of India, recently announced its plans to acquire UK based consultancy, Axon Group plc. The deal will be cash based and company will purchase SAP consultant Axon for USD753 million. The deal will be a landmark in Infy’s history as will give a ready made access to existing market of Axon in Europe. Also, Infosys can leverage Axon’s strength and consultation expertise to win big transformation deals in US and Europe, where Axon has a strong foothold. Last year, the Indian software giant announced its plans to acquire Philips Global’s finance and accounts BPO for assured revenue of USD200 million.
2. The second big acquisition is made by outsourcing giant, Wipro Technologies. The outbound deal by Wipro purchasing US based InfoCrossing for price USD 600 million. It is a mega deal. Such acquisitions are key propellers for Indian IT firms as they help companies to enhance their foothold in domestic market along with the added advantage of resourcing. The biggest advantage of this acquisition is the direct entry to US markets where Infocrossing has strong foothold. Also, the company can leverage its hosted and managed services to provide IT outsourcing solutions.
3. The another key acquisition was made in BPO segment. In July, this year WNS Holdings Ltd. announced its plans to acquire BPO business of UK based insurance major, Aviva. WNS acquired Avivas BPO business Aviva Global Services for USD 228 million. Under the purchase agreement, company took over all shares of AGS and took complete control over operations in Bangalore, Colombo, Pune and Chennai. Beside these captive operations, the WNS will offer BPO services to Avivas UK and Canadian operations.
These were the acquisitions that transformed the Indian IT scenario and made Indian companies to unfurl their flag of expansion on foreign lands. Such acquisitions offer not only a strong presence in domestic markets but also provide them chance to be renowned as global brand.
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