ITC Infotech eyes buy-outs in automation space

ITC Infotech, a subsidiary of ITC Ltd, is looking for buy-outs in the automation space to become a futuristic software firm.

The company has set a budget ranging from USD 25 million to USD 50 million for this purpose, Sushma Rajagopalan, MD and CEO of ITC Infotech, said.

"We are looking at companies dealing in artificial intelligence, machine learning, cyber security, Internet of Things, and robotics," she explained.

The CEO also said that the company wants to be in the gamut of futuristic developments as a software services provider.

"We will acquire (a firm) only when we know it is the right one," she told reporters on sidelines of Infocom 2017 here today.

Meanwhile, ITC Infotech has also started the process of setting up its first software development centre at Rajarhat in the metropolis.

Rajagopalan, however, declined to comment on the Rajarhat project.