Infosys Technologies on Thursday said it is scouting for acquisitions to grow its products and platform business, which it expects to contribute one-third of its revenues in the next 5-7 years.
"We are looking at building
IP assets ourselves and we will also partner with our clients to co-create (assets) as this will be crucial. We will also look at acquisitions ... to convert it to products and platforms," Infosys CEO and MD S D Shibulal said at the Infosys Innovation Day.
Infosys expects 33 per cent of its revenues to come from products and platforms in the next 5-7 years. At present, the segment constributes a little over 6 per cent to revenues.
Shibulal said, "Currently, about four per cent of the revenues come from
Finacle, while the other products and platforms contribute about two per cent. Today, we have 12 platforms and 9 nine products from six platforms at the end of FY'11. To reach a portfolio of 12 products and 12 platforms, we will have to build IP assets ourselves, co-create with clients as well as grow inorganically," he said.
Infosys, which is sitting on a cash pile of over $3 billion, has met criticism from investors and analysts as rivals like Tata Consultancy Services and Wipro have boosted their businesses with multiple acquisitions.
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