Heard on the street
Based Zylog Systems is believed to be in talks with three companies in the US and Europe for acquisitions.
By ET Bureau |
Zylog looks to the US, Europe for acquisitions
CHENNAI: Based Zylog Systems is believed to be in talks with three companies in the US and Europe for acquisitions. According to people familiar with the development, the deal is in the range of $20-40 million and likely to be concluded over the next three months.
It was learnt that Zylog, which provides technology solutions to Wi-Fi businesses, had formed an mergers & acquisition team, which has identified these companies.
The company���s MD & COO, Ram Sesharathnam, confirmed that Zylog is looking at the possibility of acquiring companies, but declined to divulge further details citing non-disclosure agreements with these prospective targets. On Wednesday, Zylog shares ended 0.5% higher at Rs 196.10.
Contributed by Mithun Roy
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