The Hindu Business Line : Aztec shortlists acquisition targets

AS part of the plans to diversify into segments complementary to its existing service offerings in software product engineering, Aztec Software and Technology Services (Aztec) is looking to acquire small software firms.

Aztec has identified allied areas in storage management and embedded systems where it plans to acquire expertise either through the inorganic or the joint venture route, says the company's Chief Technology Officer, Mr V.R.Govindrajan.

"We are evaluating a couple of opportunities in these areas but have not fixed any time-frame as yet for concluding the deal," Mr Govindrajan said.

Aztec acquired Pune-based Disha Technologies, an independent softwaretesting and validation firm last fiscal. "The Disha acquisition has helped us to emerge as a complete lifecycle services provider for our software product engineering clients," he said. With that acquisition, it now offers services that include development,testing, professional services and sustenance engineering covering entirethe product engineering lifecycle.

Aztec expects to fund the proposed acquisitions through its cash reserves,said Mr V. Sundararajan, Chief Financial Officer. "If need be, we may raise the money from other sources." The company is also looking at expanding its operations in Pune and Hyderabad, he said.

Asked about specific learnings from the Disha acquisition, he said that Aztec would only look at a complementary area of technology and it would most likely be an India-based services company. "We will look only at an India-based services company and that too, one without a product link. That mindset is very important," he added.

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