Infrasoft plans 2 buyouts in US, UK
Banking service solution provider Infrasoft Technologies plans two acquisitions in the US and UK to expand its global footprint.
By PTI |
MUMBAI: Banking service solution provider Infrasoft Technologies plans two acquisitions in the US and UK to expand its global footprint.
The company is also planning to dilute 25-30 per cent of its promoters' stake to fund the expansion plans, Infrasoft Managing Director Hanuman Tripathi told reporters here on Tuesday.
The two buyouts will be in financial services domain.
"We are planning two acquisitions. The US acquisition will be in the range of $20 million and a comparatively small one in the UK," he said.
Infrasoft has already zeroed in a couple of firms and the acquisition will be completed in the current fiscal itself, he added.
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About the divestment of stake, Tripathi said the company will raise about Rs 80-100 crore through the dilution of shares."We are thinking of whether to go for an initial public offer or to bring in a strategic partner, using which we can expand our portfolio further. We will take a final decision soon and the process will be completed in the next two-three months," he said.
Infrasoft provides end-to-end solutions for the banking and financial sector with operations in the US, the UK, the Middle East and Far East besides its India operations.
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