The Telegraph
Thursday , January 30 , 2014
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Mindtree on the prowl

Bangalore, Jan. 29: Mindtree Ltd, the mid-sized IT services provider, is scouting for acquisitions in packaged applications and infrastructure management to enhance its capabilities in service delivery.

The buyouts will not be large is size.

Besides, the company is keen to expand its delivery centres in the US. At present, it has one centre in Florida, which employs around 100 people and became operational about 18 months back. The company plans to hire 400 more at this centre.

“On a relative basis, between 2013 and 2014, will there be a larger focus on acquisitions? Yes clearly. But that will be driven by a strategy. It will be in an area we think is important to us and through which we can accelerate our capabilities,” said Krishnakumar Natarajan, managing director and chief executive of Mindtree Ltd.

“Packaged application is an area we could look at and infrastructure management is where we think we can leverage our platform. When we look at a specialised firm, it could be clearly between $20 million and $100 million,” he added.

According to him, the company will be able to beef up its cross-selling ability by strengthening its presence in packaged applications.

On whether Mindtree is on track to be a billion-dollar company by 2017, Natarajan said it was pursuing an objective to become leaders in the chosen areas of interest.

“I would rather say that in three years we want to be among the top five service providers in consumer product goods and retail. Even if the billion dollar happens by 2018, we will not lose sleep,” he said.

The Bangalore-based company is also looking to set up a delivery centre in Washington following an increase in client demand. Another centre could be in Michigan or Ohio.

The reporter was on a sponsored trip to Bangalore