Infosys eyes for acquisitions up to $ 700 mn

Bangalore, Oct 27: Executive Co-Chairman, Kris Gopalakrishnan of the IT giant, Infosys informed that the company is looking for acquisition up to $ 700 mn in its healthcare and Life Science sector.

Stating the issue, Mr Gopalakrishnan said, "Typically, the size we are looking for is up to 10 per cent of our revenues so today our revenues are projected to be about $ 7 billion so up to $ 700 million."

Continuing his statement, he also added, "We want to grow our pharma practice, our healthcare practice faster so it's really to stimulate growth, but strategically. It's filling in gaps that we have."

However, the executive co-chairman admitted that the financial crisis in Europe indeed left a grave impact on the company's growth as it has left impact on the growth of other companies, such as Tata Consultancy Services (TCS) and Wipro. "The European financial crisis is impacting our growth in Europe," said Gopalakrishnan.

OneIndia News