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Adith Charlie

In a range of Rs 45-90 cr each

Mumbai , Nov. 20

Hyderabad-based Prithvi Information Solutions (PIS) has budgeted for four overseas acquisitions in the range of $ 10-$ 20 million (Rs 45 crore-Rs 90 crore) each.

The company plans to raise $ 70 million (Rs. 315 crore) through issue of FCCBs, part of which will be used to fund its future acquisitions, said Mr Satish Kumar, Founder and Managing Director, Prithvi Information Solutions.

The company is in talks with three boutique companies in the US and one in the UK, across the enterprise solutions, manufacturing, healthcare, and insurance verticals, said Mr Kumar.

"We are in the advanced stage of discussions with these companies and expect the deals to be closed in the next two quarters," he told Business Line. The acquisition will be funded through a combination of internal accruals, FCCBs and external commercial borrowings. All the companies identified will have facilities for operations in India, added Mr Kumar.

More Stories on : Mergers & Acquisitions | Software

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