IT firm Omnitech InfoSolutions in a bid to expand global footprint and strengthen expertise in industry vertical probably in BFSI or healthcare sector is eyeing a European acquisition. The company is looking to acquire an IT firm in Europe with revenue of $20-25 million. Europe is going through a bad economic patch and lots of firms are focusing on cost reduction. The company senses this as a good opportunity to expand its footprint. The company is mainly eyeing in Germany or the Nordic region.
The deal size is expected to be 0.6 to 0.8 times of the top line revenue of the target company which should be around Rs 60-80 crore. The company will pay up to five times of EBIDTA margin initially to acquire the company and rest of the payment will be made over period of two to three years time.
The company will fund this acquisition mostly from internal resources and partly from debt. In February this year, it had acquired European IT firm Avensus Netherland for $9 million.
Omnitech InfoSolutions is an ISO 9001-2000 certified company committed to empowering global business and industry with leading-edge software and world-class support. Since its inception 18 years ago it has evolved into a managed service provider par excellence, with competencies related to business continuity and availability. These include performance management, remote management, infrastructure management and disaster recovery, software development and independent software testing.
| Company Name | CMP |
|---|---|
| TCS | 4168.05 |
| Infosys | 1922.05 |
| HCL Tech. | 1911.20 |
| Wipro | 305.15 |
| Tech Mahindra | 1685.20 |
| View more.. | |
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