In an interaction with newsmen here TCS COO and Executive Director N Chandrasekharan said that the deals would be from the west and would not identify the country. He said, the Company was discussing over 20 deals across the globe and expected some to fructify soon. Some of them were in the Asia-Pacific region.
When asked whether the Company, sitting pretty with a huge cash reserve of One billion Dollars were looking for any acquisitions, he replied, 'We are comfortable in discussing acquisitions costing a few hundred million Dollars.'' However, these acquisitions need to be strategic and add greater value to the Company.
He said that the Company saw a huge growth potential in Europe.
He specifically mentioned Germany and also said that there were few more countries where there could be penetration.
Referring the fractured growth of the IT, following global economic slow down, he said, ''We will continue to see some delays in major clients taking decision on IT spends. We are in dialogue with them and it will be a correction-based growth.
TCS announced an almost flat growth quarter to quarter growth during the April-June period this fiscal with the revenue growing six per cent at Rs 6,411 crore and profit after tax up by seven per cent over the previous year at Rs 1,291 crore.