Infosys considering buying European SAP firms?

by Editor 2/25/2009 4:41:00 PM
IT services company Infosys is considering European SAP firms as potential new acquisitions that would help the Indian IT giant to earn more revenue from SAP-based services.

Infosys has narrowed down the candidates to firms BCC and Ciber Novasoft.

BCC is a SAP firm based in Poland, with a significant presence in Germany, where its position on the market would be an asset to Infosys. Ciber Novasoft is a part of Ciber, the U.S.-based firm that acquired Novasoft in 2004.

"Despite valuation challenges, it still makes sense for Infosys to acquire a SAP aggregator (after losing out on Axon) at the right value. At any time, it is chasing multiple buyout targets, but it is a question of price and what value it brings to the table," an industry source said. "What attracted Infosys to Axon was the quality of business and its size. There are not too many SAP firms of that size for the company to chase, if it is still chasing SAP buyouts. It has offered 2x valuation to Axon ($407 million), which it is unlikely to put on smaller targets.”

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