Source : Click
Sonata Software, Bangalore based, midtier IT services firm, is actively looking at acquisitions overseas to accelerate its growth trajectory. Sonata would be looking at companies across Europe and the US for domain expertise as well as market reach.
Sonata managing director B Ramaswamy said, it would be looking at acquiring companies in the range of USD30 to 50 million and these would be funded through a combination of debt and internal accruals. He added that it would be looking very strongly at Sweden, where, it feels; there is a strong opportunity of offshoring and outsourcing of IT services.
At the same time, Sonata which has a strong presence in the domestic market, would be looking at companies in the Indian market. These acquisition plans of Sonata comes on the back of the experience it has had in picking up majority stake in Germanys TUI InfoTec.
Sonata acquired 50.1 percent stake in TUI InfoTec, the in house IT arm of TUI in September, 2006 for Euro 18 million and this gave it a foothold in the German market. Mr. Ramaswamy said, despite the initial hiccups it has managed to successfully transfer the remote infrastructure management and IT services activity of TUI from Germany into India.
Now, it is looking at using TUI InfoTec to get a larger access into the German market. It would primarily look at SMBs from the verticals of manufacturing, insurance and CPG. The Sonata MD said it would also be looking at other German speaking regions like Austria and Switzerland.
Sonata Software is present in two business segments, outsourced product development and enterprise solutions. Its primary region of operations are in the US, Europe and India.
