IT and engineering services company, Defiance Technologies, owned by the S P Hinduja group, is now looking at acquiring companies in Europe and the US, and strengthening its footprint in the enterprise IT market.
“We have identified a few companies in these areas and we are doing due diligence. We are ready to spend up to $15 million in each of these acquisitions. We have set a target of at least one acquisition, if not two, in 2013-14,” said Subu D Subramanian, MD & CEO of the Chennai-based company.
Defiance Technologies originally started as the designing arm of the Hinduja group’s flagship ‘Ashok Leyland’ after it got acquired in 2007.
From the initial team of about 20, over the past four years, the company has grown its headcount to 1,200 people with operations in the US, Germany, South Africa and South-East Asia.
In India, the company has its delivery centres located in Bangalore, Chennai and Pune. “We are now quite mature in the automotive space, but we clearly see aerospace as a growth area for us. We are looking at companies with good engineering capabilities in aerospace in Europe, preferably in Germany or France,” said Subramanian.