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Aug 13, 2012, 07.13 PM IST
After being overthrown by Cognizant as the second largest IT player in revenue terms, Infosys has stepped up its inorganic strategy to push growth. CNBC-TV18 learns from sources that the IT major could hike its M&A warchest to USD 1 billion.
After being overthrown by Cognizant as the second largest IT player in revenue terms, Infosys has stepped up its inorganic strategy to push growth. The IT major could hike its M&A warchest to USD 1 billion, reports CNBC-TV18's Kritika Saxena quoting sources.
Chairman KV Kamath and CEO SD Shibulal have briefed the management on the growth strategy. On its M&A radar, according to the sources, Infy has two European IT companies and three unlisted companies. Sources say it is also eyeing US-based healthcare solutions firm. Sources further add that Infosys is keen to close the M&A deal by this fiscal itself. The company has cash reserves of about USD 4 billion. When contacted, the company refused to comment on the subject calling it 'market speculations'.
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