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IT firms are on an acquisition spree as they chase changing consumer needs

Coming quarters likely to see more acquisitions as companies look to build capabilities, across technology, geography and industry, to cater to the growing demand.

September 15, 2020 / 04:53 PM IST
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Information Technology firms are on an acquisition spree amid the pandemic. Indian IT firms have already acquired four companies between April and September and have expressed intent to acquire in the coming quarters.

Infosys and Wipro have acquired two firms each and HCL Tech in May 2020 announced intent to acquire Cisco’s SON Technology. Just for comparison, most of these firms acquired one firm or two in the whole 2019.

Global IT firms, Cognizant and Accenture - who have significant presence in India -  have made 15 acquisitions in the meantime.

Going by the leadership commentary, these acquisitions are likely to continue as they look to build capabilities, across technology, geography and industry, to cater to the growing demand.