Infosys looks for foreign buys.

Despite the global slowdown, Infosys Technologies is scouting for acquisitions in the consulting and business process outsourcing space in Germany, France, and Japan. The company, which has cash reserves to the tune of over Rs 7,000 crore, aims to increase its market share in these regions from the current 28%.

Further, infusing confidence among the Indian IT industry, the company is of the view that the IT sector would recover in the next 12-18 months. Till such time the pricing environment remains challenging.

Gopalakrishnan, CFO of Infosys however, ruled out any salary cuts and said that broadly there may not be any pay hikes this year. According to him, senior officials of the company have taken a 40% cut in variable pay and the staff's variable pay may be on the basis of performance. crackcrack