India’s Infosys unveils growth strategy, eyes acquisitions
The company has come up with a three-year growth plan; it will continue to invest in digital services and look for 'inorganic acquisitions'
India’s second-largest software services provider Infosys has unveiled a three-year plan to transform the company, saying it is also keen on “inorganic acquisitions”.
Infosys CEO Salil Parekh wants the company to “stabilize” in the fiscal year 2019, to “build momentum” the year after and “accelerate” in 2021, reports Moneycontrol.com.
Infosys reported US$2.8-billion in digital revenues (25% of its total turnover) at the end of last fiscal year and says it will now look to become more relevant for its clients’ future. The company intends to continue investing in digital services, which are currently worth over $160 billion in market opportunities.
The IT services giant had earlier forecast that its operating margins would be 22-24% lower than last year. This has had an adverse effect on its share price and worried analysts.
Meanwhile, Infosys’ rival and India’s largest software service provider Tata Consultancy Services achieved a market capitalization of $100 billion on Monday.