Infrasoft eyes buys in UK, W Asia

Image
Shivani Shinde Mumbai
Last Updated : Feb 05 2013 | 3:21 AM IST
Infrasoft Technologies, a Mumbai-based banking products software firm, is close to acquiring a firm each in the UK and West Asia.
 
The company plans to acquire at least one of the firms by the end of the next quarter.
 
The value of the UK deal is expected to be around $15 million (Rs 60 crore) while the acquisition in West Asia is valued at $7-8 million (Rs 30 crore). Both firms will give Infrasoft access to bluechip clients and capabilities in investment banking.
 
The slowdown in the US has impacted the company's decision to expand its footprint in that geography.
 
"We have put our decision of acquiring a US-based firm on hold for some time. The financial sector in the US has seen a bit of a slowdown. Besides, firms in US are very onshore business-driven," said Hanuman Tripathi, CEO and managing director, Infrasoft. The company will consider a US acquisition after two quarters.
 
The company is also improving its focus on the Indian market. It has launched offerings of products and services for the Indian market.

 

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Feb 26 2008 | 12:00 AM IST

Next Story