Infosys may make “significant” acquisitions this year

Infosys may make “significant” acquisitions this year

Indian information technology firm Infosys has hinted at making “significant” acquisitions this year. Mohit Joshi, president of India’s second-largest IT company, said the firm is currently collaborating closely with bankers, and is looking at making strategic investments under Salil Parekh, the new managing director and chief executive officer. The company’s deal value for the trailing twelve months ended September was USD4.9bn, the firm’s highest. This was also the first time its total contract value for fresh closed deals reached USD4.2bn since September 2016. The IT services provider previously planned to sell Kallidus, Skava and Panaya, the three subsidiaries it bought in 2015 when Vishal Sikka was CEO. However, it did not push through with its plan of selling Skava and Panaya in January. The Panaya deal is said to have created tension between co-founder NR Narayana Murthy and the Infosys board, which pushed Sikka to quit.

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