Syntel set to become $1-bn revenue a year company
August 30, 2014 - In its accounting year ended 31 Dec 2013, Syntel had reported $824.8 million in revenues, a growth of 14 % over the previous year
Information technology (IT) and business process outsourcing (BPO) services firm Syntel, founded by Bharat Desai, is on its way to join the billion-dollar revenue a year club soon. It is gearing up to pursue inorganic growth opportunities.
"We were not very focused on inorganic growth opportunities but now we feel we have got enough space and bandwidth to go for a few acquisitions," said Nitin Rakesh, the chief executive and president of the Nasdaq-listed company.
He said the company was looking at acquisitions to make geographic expansion and getting capabilities in newer technology areas such as digital, mobility and analytics. "We have the strategy in place and the mergers and acquisitions' team is taking it forward," Rakesh said without giving further details.