Infotech Enterprises Limited has already shortlisted half-a-dozen companies in the European market and a transaction with one of them will be sealed during the first quarter of 2013, a person close to the development said. Chairman and Managing Director of Infotech Enterprises, BVR Mohan Reddy declined to comment on this."Since the efforts, risks and time for integration of buyout firms would be the same for a small or big acquisition, we have decided to go in for relatively big acquisitions," said Reddy. Reddy added that the company is looking at acquiring a foreign firm engaged in electronics and embedded software to help strengthen Infotech's presence in the area.

Mohan Reddy said that the company has cash reserves of INR 5 billion with no debt on books to help go aggressive on inorganic growth and changed its ear earlier strategy of buying foreign firms for around INR 500 million – INR 600 million, Infotech is now aiming to spend INR 1 billion or more on targets.