The company intends to increase its footprint across Europe and the US
Bangalore: ITC Infotech, a 100 per cent subsidiary of the $4 billion Indian conglomerate ITC Ltd, is scouting for inorganic growth to expand its operations.
Speaking to CyberMedia News, Sanjiv Puri, managing director of ITC Infotech, said, “The company is looking out for potential buys both in India and abroad that can provide complementary skill sets and also customer leverage.”
In May this year, the company ramped up its presence in the US by strengthening its sales and marketing efforts. Having clocked $64 million in revenues last fiscal, the company is hoping to outpace the industry growth with a CAGR of 85 per cent.
Besides Banking, Financial services and Insurance (BFSI), the company focuses on three other verticals that mirror its parent company ITC’s own businesses-travel and hospitality, consumer packaged goods and retail, and manufacturing. ITC Infotech also has an advanced technology division that works on incubating technologies and processes. This year, this team is focusing on RFID.
The firm competes with the likes of the global service providers like HP, IBM and Accenture and also tier-one Indian players for enterprise system integration solutions, infrastructure and testing services projects.
Puri stressed that the company’s differentiation and positioning lies in its extensive domain knowledge and the fact that ITC Infotech owing to its own enterprise background can understand the customer’s pain points and business imperatives.
Some of its clients include British American Tobacco, Abbey National Bank, Finnair, DHL, PTC and Unilever. Around five per cent of the company’s revenues come from ITC.
The spacious ITC Infotech Park in Bangalore, that measures 37 acres and boasts of eco-friendly design, has around 4000 employees. This includes 500 BPO employees involved in voice-based support. Given its current growth rate and customer traction, the company is hoping into break into the league of the top tier IT services companies.