Indian IT services and outsourcing provider HCL Technologies is looking to overtake Infosys in terms of revenue in the next five years through acquisitions and intellectual property (IP) partnerships, according to reports. HCL’s revenue has already surpassed Wipro, the third largest in IT outsourcing in India, for the first quarter of this financial year. According to sources HCL has a clear vision on also overtaking Infosys in the next five years, which means its business needs to grow 8-10% organically and about 15-20% through acquisitions. The company has a turnover target of at least US$15 billion by 2022-2023, which requires a compound annual growth rate of 14%. In the past two financial years, HCL growth was higher than the industry average; its constant currency growth rate was also better than that of Infosys, albeit from a lower base, the Business Standard reported. HCL Technologies is one of the leading IT and outsourcing companies in the Philippines, providing multi-service delivery across industries.
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