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Our Bureau

Chennai , March 13

Quintegra Solutions Ltd has said that it is looking to acquire companies with expertise in SAP implementation and those with skills in the banking, financial services and insurance space.

Mr Shankar Raman V., Chairman and Managing Director, Quintegra, told Business Line, "We are looking at acquisitions in the range of $10-20 million. Revenues of target companies would be between $5 million and $10 million."

Since the open offer made by Quintegra late last year, the reconstituted board of directors, led by Mr Shankar Raman, has made some key changes. The company recently strengthened its management team by bringing in Ms Olivia Vaz as Head, Asia-Pacific region, and Head, global SAP initiatives.

Ms Vaz, with 24 years of experience in the IT industry, was earlier the member of SAP AG's global leadership team and Director on its Asia-Pacific board.

Quintegra has also brought on Mr William J. Hinz as advisor to the board. Mr Hinz was earlier President, AlliedSignal Aerospace, a $4.8-billion manufacturer of aerospace engines and components.

Mr Shankar Raman said Quintegra would end 2005-06 with about $20 million (or Rs 86 crore), up from $11 million for 2004-2005. He expects the manpower to grow from 370 to 1,650 by 2007.

He added that, in addition to acquiring companies, growth through inorganic means would include building channel partnerships with product vendors such as SAP, Navision and Oracle Financials; and, joint ventures with companies "to whom we can provide offshore support and who can provide us geographical leverage."

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