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IT services firm Kellton Tech is looking out for acquisitions in the systems, applications and products (SAP) in data processing space.
Headquartered in New Jersey with development centres in the US and India, the firm has plans to acquire four to five small companies to enable it to expand its offerings.
“We may require some $25 million for the acquisitions, which we will raise through a 60:40 debt-equity ratio. We expect to complete the acquisitions within a year,” Niranjan Chintam, president of the company, told media persons here today.
The company, which has acquired six companies in the last three years, including three in India, aims to become a $100-million company from the current level of $35 million by 2015-16. “The proposed acquisitions are part of this mission. We believe to expand to that level, it is easier to acquire customers (through acquisition of companies) than develop,” he said.
As part of this strategy, it is also opening a new office in California. “We also plan to hire about 500 people this year (2015) across a wide range of technologies across the globe, including 100 for our Hyderabad development centre,” Chintam said.
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