Patni Computer Systems Ltd. (NYSE: PTI
) plans to raise its headcount by 4000 this year and will be looking for mergers and acquisitions. According to Executive Vice-President Mrinal Sattawala, Patni would like to acquire companies whose revenues are roughly 10 per cent of Patni revenues which will be in the $45-50 million revenue range. He further added that Patni was looking at opportunities in life sciences, retail and other verticals. Patni has $120 million in cash which would be leveraged for acquisitions. (Economic Times India
Patni is at its 52 week low of $20 and has underperformed since its IPO and listing on the NYSE.
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