Cognizant eyes buyouts in Asia-Pacific

IT services firm Cognizant Technology Solutions is scouting for acquisitions to diversify its presence in the Asia-Pacific region, the company's Chief Eexecutive Officer Francisco D'souza has said.

However, the company declined to comment on whether it is in race to buy crisis-ridden Satyam Computer Services.

"We have very active acquisition programme. We are always looking at acquisition targets," D'souza told PTI when asked whether the entity is eyeing buyouts in the Asia-Pacific region.

In a telephonic interview, D'Souza said that the firm is very selective in deciding on acquisitions and also pointed out that it has considerable cash to finance a buyout.

Responding to a query on whether it is interested in Satyam, D'Souza asserted that Cognizant actively looks at acquisitions targets worldwide.

"...We look at acquisitions all over the world. I can't comment on any specific acquisition (plans) that may be in our pipeline at this point of time," he added.

Reports suggest that Cognizant is among the companies which are in the fray for buying a majority stake in Satyam.

Noting that Cognizant has an "active acquisition pipeline" at any point of time, D'Souza said the company has "considerable amount of cash available on our balance sheet to finance an acquisition".