Patni eyeing European company for $45 mn

Patni eyeing European company for $45 mn
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First Published: Tue, Sep 04 2007. 12 01 PM IST
Updated: Tue, Sep 04 2007. 12 01 PM IST
Bangalore: Software services firm Patni Computer Systems Ltd is close to acquiring a company in Europe for $40-$45 million, a leading financial daily reported on 4 September, citing unnamed sources.
Patni, which counts General Electric Co. and ABN AMRO among its clients, has completed the evaluation process of the European enterprise application service provider and an announcement is likely in about two months, the paper said.
It did not identify the company by name and a Patni spokeswoman was not immediately available for comment.
Indian software services firms are on the prowl for overseas buys, especially in Europe, as a stronger rupee and a skills shortage cramp their operations at home. The deals are also aimed at strengthening marketing muscle and add large clients.
In July, the mid-sized Patni said it had acquired European telecoms consulting firm Logan-Orviss International for an undisclosed amount.
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First Published: Tue, Sep 04 2007. 12 01 PM IST