Business Daily from THE HINDU group of publications
Thursday, Apr 17, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Apr 17, 2008 ePaper | Mobile/PDA Version | Audio |
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Info-Tech
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Overseas Borrowings Infinite close to raising $50 m Mumbai, April 16 Software services firm Infinite Computer Solutions is close to raising up to $50 million (up to Rs 200 crore), primarily for funding its inorganic growth aspirations. The company will utilise the proceeds for making two niche acquisitions and for setting up a new centre in North India, Infinite’s Chief Executive Officer, Mr Upinder Zutshi, told Business Line. “The company will either go in for an initial public offering or raise money from pr ivate players; we will take that final call in a week’s time,” said Mr Zutshi. Infinite operates in segments such as telecom, healthcare and infrastructure management. The company generates 60 per cent of its revenues from the telecom space. Infinite is keen to make two acquisitions in the $12-16 million (Rs 48-64 crore) range in the next 24 months, said Mr Zutshi. The company is close to acquiring a product owned by a telecom equipment manufacturer in the US. If this buys goes through, it will enable Infinite to venture into the area of transaction based value added services. With these drivers in place, Infinite expects to more than double its revenues to $200 million by 2010-11 from $85 million at present, added Mr Zutshi. The company will soon have a new facility in either Noida or Gurgaon. Infinite currently operates out of Chennai, Hyderabad and Bangalore in India. – Our Bureau More Stories on : Overseas Borrowings
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