Globsyn in advance talks with 2 US cos for acquisition

NEW DELHI: Kolkata-based IT product and services company, Globsyn Infotech said on Sunday that it is in advance talks with two American companies for acquisition.

"We are in advance stage of talks with the two US-based companies for acquisition and my target is to complete atleast one by June 30, 2010," Globsyn Infotech Chairman Bikram Dasgupta, told PTI.

Cash positive companies are on the radar for take over, he said, adding, the acquisition should fit in the scheme of things of the existing business.

Globsyn is a product and services organisation with core rooted in the Banking and Financial services industry (BFSI) space.



On funding for the acquisition, he said, money would be raised from the shareholders by way of rights issue or other means.

Money won't be a constraint for expansion of the business either by inorganic or organic route, he said.

Dasgupta said, inorganic route would help the company to enhance value and market capitalisation.

Talking about its latest product to check money laundering, Dasgupta said, Globsyn's RAFTS is fully integrated and is in compliance with Anti-Money Laundering solutions add on to TurboSwift.