Mindtree eyes acquisitions in infra mgmt, packaged app

Software and R&D services company, Mindtree, today said it is eyeing acquisitions in $50-100 million range in segments like-- infrastructure management and packaged applications.

"We are looking at acquisitions across all geographies in the range of $50-100 million in infrastructure management and packaged applications. We aim to drive growth in revenue from these two segments," Mindtree Consulting Chief Executive Officer and Managing Director Krishnakumar Natarajan told reporters on the sidelines of the Nasscom summit here.

Mindtree aims to be a $1 billion company in terms of revenue by end-fiscal 2014, he added.

The company expects that its acquisition of mobile handset-maker Kyocera Wireless Corporation will augment revenues by $18 million by end-fiscal 2011.

Mindtree had in September last year entered into an agreement with San Diego-based mobile handset-maker Kyocera Wireless Corporation (KWC) for acquiring its Indian subsidiary, based in Bangalore.

"After the Kyocera acquisition, our revenue generation will increase by $18-million by end-fiscal 2011," Natarajan said.

The Chennai-based company said it is coming up with a 3G-enabled wireless phone by December-end.

"Currently, we are chasing 5-6 contracts, each worth $2-million (cumulatively $10-12-million)," Natarajan said, adding that client-spending on technology "will be flat or marginally higher in the coming fiscal."