Tech firms put on 'acquisition' glasses, again!

New Delhi, Nov 10 (PTI) The economy is getting back on
its feet and a definite proof of this lies in technology firms
returning to the market looking for buy-outs.

India's leading IT firm HCL Technologies Tuesday said it
is looking at a string of small acquisitions over the next
year to close gaps in services offerings, while Wipro
Technologies said it is scouting for a BPO company.
Companies had put merger and acquisitions on hold since
the second-half of last year when the world was being swept by
the global financial meltdown, but analysts also saw the
crisis creating an opportunity for 'right-value' acquisitions.
BPO firm Genpact said that it too was looking for
acquisitions in India and other markets.
"We are eyeing acquisitions for sometime and looking at
many deals. Pricing is very important for us," Genpact
President and CEO Pramod Bhasin had said Monday.
HCL Tech Chief Executive Officer Vineet Nayar told PTI
Tuesday that "HCLT continues with its pearl-on-strings
acquisition strategy to fill up gaps in certain areas... and
you may see some acquisitions in the next few quarters" in
areas such as health care and life sciences.
"The economy has improved. The IT demand situation is
certainly improving... BPO will drive growth for the IT
industry. Acquisition is part of our strategy we keep
looking at it," Wipro Technologies Joint CEO Suresh Vaswani
said on the sidelines of the Indian Economic Summit here.
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