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Tuesday, November 24, 2009

Infosys eyes Ciber Novasoft

Infosys Technologies Ltd. is reportedly in talks to acquire European IT consulting company Ciber Novasoft in a deal valued at around US$200-300mn. The Bangalore-based IT major is not the only one interested in Ciber Novasoft. Hence, a bidding war is possible and it may take some time before a final deal is announced.

Infosys is also believed to have short-listed three other companies for acquisition. The company declined to comment on the media reports.

Ciber Novasoft has revenues of around US$420mn, which is down substantially from last year.

Standard Chartered us advising Infosys on the deal while Ciber Novasoft is being advised by Citi and JP Morgan Chase, according to reports

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