HCL Technologies sews up M&A strategy, eyes $200m firms
HCL Technologies
hcltech.com
HCL Infosystems
hclinfosystems.com
Partha Pratim Sinha & S Muralidhar
Mumbai, Nov 7: HCL Technologies (HCLT) has finalised an M&A strategy that will help the company grow aggressively. Ahead of its forthcoming public issue, the company's board is learnt to have approved an M&A strategy which seeks to consider targets with annual revenues in the range of $20 million to $200 million. While company officials refused to comment on the M&A strategy, merchant bankers said HCL Technologies has some major non-organic growth plans-mergers and acquisitions which will help the company outperform industry expectations. The target will include companies that can be successfully overlaid with HCLT's business model.
The company plans to utilise a substantial part of its issue proceeds for acquisitions and strategic alliances, in India and abroad. HCL Technologies will primarily target businesses which have interest in e-commerce, web-enabled technologies, business consulting, IT consulting, systems integration, applications development and ERP consulting and implementation. According to merchant-banking sources, the company is looking at targets in the US, Canada, Europe, Japan, Korea, Australia and New Zealand.....
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