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Indian companies are acquiring global companies at a maddening pace

In the last few months, Indian companies have been acquiring foreign firms at a rate never seen before. As per a report by Thomson Reuters, India’s acquisitions abroad grew 369% to $4.5 billion (nearly Rs 29,937.37 crore) in the January-June period of the ongoing calendar year.

The largest number of acquisitions were in the energy & power sector followed by IT, healthcare, fintech, and edtech. Companies like Reliance Industries led the acquisition cycle power sector and in technology, the emerging networking business giant Tech Mahindra led the charge.

Tech Mahindra acquired US-based, Infostar LLC (Lodestone) and London-based, We Make Websites Ltd (WMW) by Born London Limited for $105 million (Rs 789 Cr.), and £9.4 million (about Rs 97 Cr.) to respectively strengthen its digital portfolio. “The acquisition will strengthen Tech Mahindra’s digital engineering capabilities to effectively utilize data strategy and address machine learning challenges,” said Vivek Agarwal, President – ​​BFSI, HLS & Corporate Development, Tech Mahindra.

In the post-pandemic period, Indian IT companies doubled down their expansion efforts, and this time the focus is not only on organic growth but acquisitions also. Many European IT services firms or the IT division of large companies were acquired by Indian giants. Wipro acquired IT units of German firm Metro AG in a multi-year technology transformation deal with a revenue potential of $1 billion. Wipro had also acquired Belgium-based 4C, one of the largest Salesforce partners in Europe, the Middle East, and Africa (EMEA).

Read More at https://tfipost.com/2021/10/indian-companies-are-acquiring-global-companies-at-a-maddening-pace/

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