India Eco Summit: HCL Tech looking at a string of acquisitions

India's leading IT firm HCL Technologies today said it is looking at a string of small acquisitions over the next year to close gaps in service offerings in certain areas like healthcare and lifesciences.

"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," HCL Tech Chief Executive Officer Vineet Nayar told PTI.

Last year the company had acquired four companies, including one in the telecom sector, and plans to do the same in the coming months.

"Our acquisition strategy, going forward, is going to be the same. Wherever we see that gap, whether it is healthcare or  lifesciences... (those acquisitions) will help us deliver the business," Nayar said.

He said companies are still on the cost cutting mode, while vendors want to retain margins, and in this scenario HCLT sees a big opportunity that can open many more doors for business.

HCL Technologies is a leading global IT services company, working with clients in areas that impact and redefine the core of their businesses.

The company focuses on 'transformational outsourcing', underlined by innovation and value creation, and offers integrated portfolio of services, including software-led IT solutions, engineering and research and development services and BPO.

As on 30 September 2009, the company, along with its subsidiaries, had consolidated revenues of $2.3 billion (Rs 11,270 crore).