Software firm Patni Computer will seek acquisitions in Europe and the Asia-Pacific to help lower its dependence on the US, an official said on Thursday, boosting shares to its highest since November 2007.
The company will look at targets in the range of $50 million-$200 million, chief financial officer Surjeet Singh told Reuters in an interview over the telephone.
“Having done the portfolio gap analysis now, we are also acquisitive as a firm. So, therefore, you will see inorganic activity as well,” Singh said after the New York-listed Patni Computer Systems Ltd reported June-quarter results.
Friday, July 31, 2009
Patni to seek acquisitions in Europe, Asia-Pacific
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