BFL Ltd, the Bangalore-based technology company with operations
in software services as well as the call centre space, is on the
`lookout' for acquisitions in the software sector.
to Business Line, the company's Chief Financial Officer, Mr Ravi
Ramu, said, ``we are on the lookout for acquisitions in the software
services area. A good client base and/or a particular geographical
presence would be the drivers behind the acquisition.''
Ramu also indicated that the target company will not be an Indian
one. He further added, ``at present our business is complete. We
do not need to acquire another company only in order to boost growth
prospects. In that sense an acquisition is not an imperative but
simply a good option at this stage to acquire a good client base,
a good front-end or even a certain geographical presence.''
may be recalled that MphasiS has recently appointed investment banker
Solomon Smith Barney (SSB) to aide its strategic initiatives.
about MphasiS's software services business, Mr Ramu said that it
has been difficult for the company in the past but things are beginning
to look better now.
during the slowdown, we have not shut down our offices or cut back
on marketing efforts. Things seem to be getting better now; we have
had some good client wins recently though their spends are small.
We are just waiting for the slowdown to wear off because by then,
I believe, we will be on a very good footing as far as the software
side of the business is concerned,'' Mr Ramu said.
the first quarter ended June 30, 2002, the company had reported
a net profit of Rs 13.85 crore compared to Rs 4.80 in the corresponding
period last year. Revenues for the quarter stood at Rs 89.5 crore.