Infosys likely to hike M&A budget to $1-bn: Sources

The new chairman of Infosys, KV Kamath, is sparing no time in introducing new strategies for the company's successful growth. For starters, Infosys is likely to hike its mergers and acquisition budget, reports CNBC-TV18 quoting sources.

Infosys' earlier budget for M&A was USD 250-500 million. This sum now stands at USD 1 billion. The move comes as part of their revised M&A strategy for FY12. Also read: Infosys top-brass reshuffle not purely ornamental: Analyst
According to CNBC-TV18, the IT major is likely to expand its footprint in the US and in Europe. Also, presently, Infosys might look at more than two companies with over USD 600 million in revenue for acquisition.
Infosys, however, refused to comment on the matter.