After acquiring Indian IT firm Patni two years ago, seems iGate is again seeking acquisitions in India. If reports are to be believed, iGate is planning to spend about $25-50 million for acquiring smaller companies in India.
Phaneesh Murthy, Chief Executive Officer, iGate, said, "We are looking for smaller acquisitions, something like a tuck-in acquisition, in the range of $25–50 million. The acquisition should help us strengthen our platforms and operations, especially in the banking, financial services and insurance space.”
It is important to note that iGate has acquired nearly 63-per cent stake in Patni Computer Systems in 2011 for $1.22 billion.
