Globsyn talks to two US firms for acquisition

Kolkata-based IT product and services company, Globsyn Infotech, today said it is in advance talks with two American companies for acquisition.

“We are in advance stage of talks with the two US-based companies for acquisition and my target is to complete at least one by June 30, 2010,” Globsyn Infotech Chairman Bikram Dasgupta said.

Cash-positive companies are on the radar for takeover, he said. Adding, the acquisition should fit in the scheme of things of the existing business. Globsyn is a product and services organisation with core rooted in the Banking, Financial Services and Insurance (BFSI) space.

On funding for the acquisition, he said, money would be raised from the shareholders by way of rights issue or other means. Money won’t be a constraint for expansion of the business either by the inorganic or organic route, he said. Dasgupta said the inorganic route would help the company to enhance value and market capitalisation.

Talking about its latest product to check money laundering, Dasgupta said Globsyn’s Real-time AML Filter for Turbo Swift (RAFTS) is fully integrated and is in compliance with Anti-Money Laundering solutions.

RAFTS allows real time filtering of all incoming and out going fund transfer messages to look for any unusual or suspicious transactions being carried out during international transactions by a bank.