Buy the Way ; Even As the Global Meltdown Brings Bad News with Every Passing Day, Indian Technology Companies Cash in On the Malaise and Acquire Foreign Firms at Unusually Low Prices.

Summary

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In his posh office in Mumbai's Nariman Point area, N. Chandrasekaran, chief operating officer and executive director of tech giant Tata Consultancy Services (TCS), sits back and takes stock of the remains of the global financial massacre, with almost a look of contentment.

In December last year he acquired Citigroup Global Services Ltd (CGSL), Citi's BPO outfit, for $512 million. With a CAGR (compound annual growth rate) of 27 per cent (FY05 to FY08) and a diversified revenue mix from America, Europe and Asia-Pacific, this could drive his company's growth for years.

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Extract

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Buy the Way ; Even As the Global Meltdown Brings Bad News with Every Passing Day, Indian Technology Companies Cash in On the Malaise and Acquire Foreign Firms at Unusually Low Prices.

But TCS is not alone. In August, HCL Technologies acquired Control Point Solutions (CPS), another American company for $20.8 million. As the market malaise cuts valuations of companies in the US and UK, Indian tech majors are grabbing the opportu...

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