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Vishwanath Kulkarni

Bangalore , Feb. 20

SOFTWARE services firm Infinite Computer Solutions (ICS) plans to start its Chinese operations soon. The company is in the process of setting up a subsidiary in China and is also looking at the option of acquiring a local firm, said Mr Upinder Zutshi, its Chief Operating Officer.

Infinite, which has been scouting for potential targets for close to a year now, was currently in talks with three firms for possible buy-out of which two are India and one in China, he said. The company has mandated Ernst & Young to scout for possible targets and seal the deal.

"We are looking at companies with revenues between $7 and $15 million. The acquisition would be to enhance our expertise in areas of BFSI (banking, financial services and insurance) and embedded software systems and also to bring in additional clientele," he said. The company has recently set up a small technology group for the embedded software systems and is looking at growing it through acquisition.

Infinite recently opened its office in Hong Kong and Singapore sees a major growth potential in the Asia Pacific region, especially Japan. The company thought having a Chinese presence would help it to be successful in the Japanese market, he said.

Meanwhile, Infinite, which has a huge onsite presence, is consciously growing its offshore operations. It expects its offshore operations to account for 21 per cent of its revenues in the current fiscal as compared to 12 per cent last year.

"We are looking at increasing the revenues from offshore operations to between 30-35 per cent by next year-end," Mr Zutshi said.

The company, which expects to close the current fiscal with revenues topping $64 million, aims to be a $150 million company by 2007, Mr Zutshi said.

It also plans to increase its headcount from the current 1,100 to 2,500 by 2007. Infinite currently has two development centres in the US and one in Bangalore. Its clientele among others include big names such as Verizon, IBM, Pitney Bowes among others.

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