"Our acquisition strategy is based on acquiring companies which can either improve our critical mass in a particular geography or strengthen our offerings in a key market or technology," said Seamus Keating, group finance director of LogicaCMG.
LogicaCMG provides management and IT consulting, systems integration and outsourcing services across diverse markets, including telecommunications, energy, utilities and financial services. The company was formed in December 2002 by the merger of Logica and CMG.
The company is scouting India for a software development organisation with a staff of approximately 500 people, probably in the financial services or telecoms software sector.
LogicaCMG already has a software development centre in Bangalore.
LogicaCMG is also planning to acquire companies in other countries, including the US. "We would look to expand in key geographies and to build on our sector expertise," said Keating. "Obviously to achieve our ambition of a top-10 position, we will have to be larger in the US market."
Last September, LogicaCMG said it would increase the Bangalore office's staff from 400 people to approximately 1,500 over an 18-month period, as its customers showed interest in Indian offshore development.
LogicaCMG's Bangalore staff handle information technology services, product development and man a technical support desk for customers. The centre is also developing products for the financial services, mobile telecoms and energy and utilities markets.
John Ribeiro writes for IDG News Service