Business Standard

Cash-rich IT service firms on a shopping spree, eye inorganic expansion

The top four Indian IT firms have cash reserves of nearly $15 billion

Digital transformation

Illustration: Ajay Mohanty

Sai Ishwar Mumbai
The country’s information technology (IT) services companies are utilising cash on their balance sheet to strengthen their digital, cloud and healthcare offerings — the themes that predominantly helped them beat the pandemic-induced downturn.
According to experts, while several of the target companies are available at attractive valuations, IT service firms are also eyeing to expand their presence in newer markets through inorganic expansion.
Already in the September quarter, top Indian IT services firms including Infosys, Wipro, and HCL Technologies have made several acquisitions, not to mention Cognizant, technically a US-headquartered company.
Last week, HCL Technologies announced the

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 29 2020 | 6:40 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to