Midcaps up M&A game with winds of tech spends revival
acquisition activities, with several small and midsize firms announcing deals in the past four months in segments ranging from consulting and startups to engineering services, data and analytics.
Most of them are making acquisitions to strengthen their capabilities so that they do not miss out when the demand for technology spending, especially in discretionary projects, returns, say analysts. Big IT firms such as Infosys, HCLTech, Wipro and Cognizant too have announced M&A deals in recent months, but the numbers were fewer compared with their smaller rivals.
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Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitIIT DelhiCertificate Programme in Data Science & Machine LearningVisitMITMIT Technology Leadership and InnovationVisitThis week, two IT firms backed by private equity major Carlyle Group – Hexaware Technologies and Quest Global – announced acquisitions. While Hexaware acquired Softcrylic, a Minneapolis-based data consulting firm, Quest Global purchased a majority stake in People Tech Group, an ERP solution provider. Last week Coforge shelled out $220 million, or about Rs 1,826 crore, to acquire a 54% stake in Hyderabad-based Cigniti Technologies.
Happiest Minds this week signed a definitive agreement to acquire 100% stake in US-based digital product engineering company Aureus Tech Systems for $8.5 million in cash. This is the company’s third acquisition in 2024. Last month it announced buying
