The merger and acquisition trend in the mid-size IT space started two years back when MindTree acquired Aztecsoft. Latest one being iGate Acquiring Patni to become a billion Dollar Revenue company. Planning to be a outcome based integrated service provider of both IT and BPO.
In 2009, the IT sector saw close to 92 M&A deals, number of M&A deals increased to 115 in 2010, and industry analysts feel that 2011 will see further substantial increase in M&As.
Ashok Soota started a company happiest Mind after leaving MindTree –
While most IT firms define domain knowledge as either technology practices or industry verticals, Happiest Minds will add a third component – business workflows that will incorporate prototype solutions based on latest technologies.
Wipro Ltd has added to the string of acquisitions it has made in the past two years with the purchase of Science Applications International Corp.’s (Saic) oil and gas IT (information and technology) practice. The company will pay $150 million for the business.
Genpact has acquired consulting and IT services firm Headstrong Corporation for $ 550 million. Does the merger mean end of pure-play Indian BPO companies?
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