Hexaware Technologies Ltd is seeking an acquisition worth $25 million to $75 million in the infrastructure management or the BPO space, a top official told Reuters on Thursday.
“We would prefer to do this in an area where from an integration standpoint we don’t face too many challenges, we would prefer operations which also have a good presence in India ,” Chief Executive and Vice Chairman P.R. Chandrasekar said over the telephone.
The company, which had cash and cash equivalents Rs 4.69 million as of September end, intends to fund the deal with internal cash accruals, he added. Earlier in the day, Hexaware posted a quarterly net profit of Rs 420.4 million on a consolidated basis, compared with Rs 413.5 million a year ago.
At 12.34 p.m., shares of the company were trading up 3.26 per cent at Rs 88.80.