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Patni sees Q4 revenue rising over 3% QoQ
Software services firm Patni Computer Systems is looking at a sequential revenue rise of more than 3% in the December quarter as it expects to get larger deals, its Chief Executive said.
Software services firm Patni Computer Systems is looking at a sequential revenue rise of more than 3% in the December quarter as it expects to get larger deals, its Chief Executive said.
"Growth is not what it has been used to be before, but it is better than what it has been recently," Jeya Kumar told Reuters in an interview late on Thursday.
Mid-sized Patni, which is also listed in New York, is looking at acquisitions of companies whose revenues range from USD 150 million to USD 400 million, he said, adding a deal could be announced by December or January.
"We have already signed a term-sheet with one and the rest, we are still in discussions," Kumar said. The company has shortlisted four companies as prospective acquisition targets.
The company's revenue in the September quarter rose 3.3% from the preceding three months to USD 167.2 million, after a sequential rise of 3.5% in the June quarter.
Patni follows a January to December accounting year.
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