Infosys forms panel to oversee acquisitions by CEO Vishal Sikka

Infosys , the second-largest software services firm of India, has set up an investment panel to oversee acquisitions by CEO Vishal Sikka .

Sikka, who took over as the company's CEO and MD on June 12, 2014, is said to be fiercely pursuing acquisitions to fulfill Infosys' revenue target of $20 billion by 2020.

According to The Economic Times, the panel formed on the company's board will review all large acquisitions of Infosys and get approval of board members on the same.

Sikka has said that he wants at least $1.5 billion revenue to come from acquisitions.

The new panel will be chaired by board member Roopa Kudva. Former Microsoft India chairman Ravi Venkatesan is also a part of it.

Infosys reported a net profit of net profit of Rs 3,097 crore in the fourth quarter on sales of Rs 13,411 crore.

The company said that it is likely to grow its revenues by 10-12 per cent during the current financial year.