IT company Omnitech InfoSolutions is looking to acquire an IT firm in Europe with revenue of $20-25 million to expand global footprint and strengthen expertise in a industry vertical. Omnitech was evaluating companies with revenue between $20 million and 25 million and expertise in a particular industry vertical, probably in BFSI or healthcare sector. The deal size is expected to be 0.6 to 0.8 times of the top line revenue of the target company which should be around Rs 60-80 crore. The company will pay up to five times of EBIDTA initially to acquire the company and rest of the payment will be made over period of two to three years time. The company would fund this acquisition mostly from internal resources and partly from debt. Omnitech acquired European IT firm Avensus Netherland for $9 million in February.crackcrack
