Infosys looking for possible acquisitions

Infosys Technologies Ltd. has said that they are looking for possible acquisitions of companies with annual revenue of $100 million to 200 million.

The company aims to benefit from the recent rupee weakness. Infosys chief financial officer V. Balakrishnan said in a statement: “Our acquisition strategy is to look for companies which can come and fill the strategic gaps we have either in services or geographic or technology area.”

He added that the weakening rupee was likely to improve the company’s margins during the April-June quarter. He said: “Overall, I think this quarter rupee depreciation may be positive to our margins.”

Infosys is the country’s second largest exporter of software services. The company is expecting the wages to rise 13-15 percent in the short term but hoped to maintain its margins.