DBT Bureau
Bengaluru, 29 June 2024
As the Indian IT industry goes through a slowdown owing to a cut in technology spending globally, Indian IT firms are on an acquisition spree to tap the inorganic route of accelerating their top lines.
Here is a list of M&As that the Indian IT industry saw in recent quarters.
| IT company | Acquired Entity | Cost & Time of Acquisition |
| Infosys | In-Tech Holding GMBH (Germany-based ER&D Player) | $480 million – April 2024 |
| InSemi (Semiconductor firm) | Rs 280 crore (about $35 million) – January 2024 | |
| GCC unit of Danske Bank | $454 million (won worth deal)- June 2023 | |
| Wipro | Aggne Global Inc (US-based Insurtech firm) | $66 million- February 2024 |
| SDVerse LLC (27% stake) – Automotive software marketplace | $5.85 million- March 2024 | |
| HCL Tech | ASAP Group (German automotive engineering services company) | $279 million – July 2023 |
| Certain assets of Hewlett Packard Enterprise (HPE) | $225 million – May 2024 | |
| Coforge | Cigniti Technologies (Engineering Services company)- 54% stake | $220 million- May 2024 |
| ITC Infotech | Blazeclan Technologies (Cloud Consulting firm) | Rs 485 crore (around $61 million)- April 2024 |
| Happiest Minds Technologies | Aureus Tech Systems (US-based digital product engineering firm) PureSoftware Technologies (Digital Engineering firm) | $8.5 million- May 2024 $94.5 million- April 2024 |
| Macmillan Learning India | Rs 4.5 crore (around 0.5 million)- April 2024 |
