July 26, 2006
Indian Outsourcing Company's Move to Buy Botnia
Here is a great news for the Indian outsourcing companies! Now Indian companies have begun thinking big in terms of business acquisitions. Indian outsourcing company Sasken Communication Technologies Ltd. has finalized a deal to buy Finland-based Botnia Hightech Oy for 35.5 million euros. Saken's move will boost its capabilities in wireless services. With this acquisition, Sasken will set up its first European research development center. The company will also enhance its capabilities as a provider of telecommunication software and related services. This acquisition may set a good precedent for other Indian companies. Do you think that it is time for other Indian companies to make a move?
The deal is the latest in a string of overseas acquisitions by top Indian companies, which are trying to increase global visibility after surviving for decades on domestic sales and government protection. Sasken will pay euro35.5 million (US$45 million) for Botnia Hightech in an all-cash deal, the statement said.
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