Indian software services provider Wipro Limited has set its sights on international deals between $50 million and $300 million over the next 18 months. It·plans to add intellectual property and software to boost profits in a quest for around $1bn from overseas acquisitions.
Corporate players in India are increasingly getting more attracted to cross-border acquisitions than they were a few years ago, according to a latest survey. Grant Thornton found that 37 per cent of business leaders are planning M&As over the next three years.
Indian software services providers have been gradually gaining market share in Europe, despite an overall slowdown in the economy. According to a recent Gartner report, the top five Indian IT services companies, including Tata Consultancy Services (TCS) and Infosys, have increased their market share in Western Europe from 2.3 per cent in 2010 to 2.8 in 2011.
The global ambitions of Indian companies have been realised largely as a result of mergers and acquisitions, according to a new survey. The Indian School of Business (ISB) and Brazil’s Fundacao Dom Cabrall (FDC) conducted a transnationality study of companies.
One of India’s leading IT companies, Wipro Limited, has announced plans to acquire Australia-headquartered Promax Applications Group for an estimated $36 million.
The acquisition is aimed at expanding the company’s capabilities in providing analytic services in the field of trade promotion planning, management, and optimisation.
The international trading arm of the Tata Group, Tata International Limited, has formed a 50-50 joint venture with Wolverine World Wide Inc (WWW) for the wholesale distribution of its footwear and apparel brands Merrell and Caterpillar in India. As an additional element, the JV will have an arrangement with Trent.