UST Global says in talks to buy analytics firm

MUMBAI: Software services company UST Global said it is in advanced talks to acquire an analytics firm based either in the US or Europe.

Joe Nalkara, president of privately held UST Global, said the California-based firm will invest anywhere between $10 million (Rs 54 crore) to $25 million for the acquisition.

"We are actively looking at a few good names in the area of ecommerce and analytics. An announcement will be made over the next two quarters," Nalkara said. In 2012, the company had bought California-based mobile applications developer Andare.

Over the past one year, Indian IT firms have been trying to strengthen their skills in emerging technologies such as analytics, mobility, cloud computing and big data as they adapt to the changing priorities of client firms. Last year, India's third-largest IT firm Wipro had acquired an Australia-based analytics company Promax.

UST Global, which counts companies like Bank of America and Wal-Mart as its clients, said it gets close to 20% of the overall revenues from analytics, mobility and cloud.

Nalkara also said UST Global has no plans for an initial public offer anytime soon. "Being privately held gives immense flexibility. You can make moves without worrying about the street," he said.