US firm Teoco eyes buyout opportunities

MUMBAI: Teoco, a US-based telecom support provider, on Tuesday said it is scouting for acquisitions in the range of $10-50 million as it looks to strengthen its presence in the domestic market as well as the Asia-Pacific region.

The company, which offers business and operations support solutions to telecom operators, employs about 700 people globally. Its revenues stood at over USD 100 million last year.

"Traditionally, we have grown on the back of acquisitions and we are looking for opportunities that will give us strong IP and software capabilities. We would be okay with small and large sizes but $10-50 million is the sweet spot," Teoco Chairman and Chief Executive Atul Jain told PTI.

He further said this will help the company ramp up its APAC presence, especially here, which currently contributes less than 10 per cent to Teoco's revenues.

"In the next four-five years, we are looking at revenues of $250 million overall and India and APAC region will have a much stronger play. In the next two-three years, revenues from India and APAC should be in double digits," he said.

Currently, the company employs about 150 people across its Kolkata, Bangalore and Mumbai offices.

The company counts AT&T, Verizon, T-Mobile and Sprint as its clients globally while it works with Reliance Communications in the domestic market.