India becomes second largest investor in UK

India Inc. is running faster than expectation in the race of global acquisitions.  Indian IT companies are now using mergers and acquisitions to increase presence in USA and Europe. India has become the second largest investor in Britain next to the USA. Almost half of the foreign acquisitions were in IT. According to a Yahoo news report Indian companies spent 228 million pounds buying British businesses in 2005. Some examples of the 2006 acquisitions and joint ventures undertook abroad by Indian IT industry in last quarter of 2006 are listed below:

• Indian Telecom software firm Subex Systems $140 million deal to acquire UK-based Azure Solutions is the largest foreign acquisition by an Indian IT company.
• 3i Infotech paid $12 million to acquire 51 per cent stake in Professional Access of USA.
• Mantas Inc. of USA was acquired by i-flex Solutions Ltd in an all-cash transaction of $122.6 million.
• TransWorks, an Aditya Birla Group acquired a Canada-based BPO company Minacs Worldwide Inc. for $125 million.
• Tata Consultancy Services (TCS) would hold 64 per cent stake in its Chinese joint venture partnered with National Development Reforms Commission (NDRC) and Microsoft.