When Ashok Soota, the founder chairman of MindTree -a mid-sized IT firm with market capitalisation of R1,499 crore -quit in January this year there were concerns about the company's future.
Keen to shrug off apprehensions the company quickly set its house in order and has charted a road map where it sees itself as a niche software company with specialised skills in select business verticals and is eyeing to acquire other IT firms.
“We could go for mid-sized acquisitions in the deal size of $60 million (R270 crore) to $100 million (R450 crore),“ said Krishnakumar Natarajan, CEO and MD of MindTree. Natarajan refused to divulge further details if the company was actively scouting to buyout a company.
“We will not acquire very small companies,“ he said.