After doing away with ESOP schemes for its employees and setting up new software development centers in northern part of India, Software and outsourcing firm Hexaware Technologies now sets its eye to acquire an IT firm in US or Europe. Budget allotment is $40 million. They are not in hurry and plans to close the deal in this calendar year. Hexaware wants to expand its Enterprise Resource Planning (ERP) services in segments across travel, banking, transportation and financial services among others.
The company earns more than 65 per cent of it’s revenues from the US market, 26 per cent comes from European business Asia Pacific merely contributes only 5-6 per cent.
The company had last year acquired FocusFrame, a Mexico-based IT company, for 34 million dollars (Rs 146 crore) to expand its software testing business.
The company that Hexaware acquired in 2006 was FocusFrame, not Fox Frame!
Posted by: Anonymous | April 11, 2007 10:27 PM | Permalink to Comment