Mindtree seeks acquisition in US and Europe

04 Sep 2013

Mindtree, a mid-sized IT firm is looking for acquisition in the US and Europe, in order to build deeper domain capabilities in its industry verticals -- banking, financial services and insurance, retail, travel and hi-tech. It is also planning to purchase a $30 million-$50 million firm to strengthen its offerings in infrastructure management and package application solutions.

For this buyout, the company will be made use of the funds that the company currently holds. It has a cash and cash equivalents reserves of around $200 million. In 2009, the Bangalore-based company had last made an acquisition in Chennai-based focused infrastructure Management Company 7Strata.

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