Mid-sized IT product firm Aspire Systems will continue its acquisition spree in a bid to generate 20 per cent of its $100 million revenue through inorganic route by fiscal year 2017.
“Acquisitions are the key for us to scale and it is a crucial part for selling our products,” Gowri Shankar Subramanian, Chairman and CEO of Aspire Systems, said.
He said the firm would be looking for buys in the areas of enterprise mobility, retail consulting or firms implementing retail technology, oracle tool implementation or infrastructure management. “We are in early stage of discussions with a few firms and this can happen in the U.S. or other market,” he added.
Over the last one year, the Chennai-based company has acquired three small-sized firms for geographic expansion and domain capability.
In December 2013, Aspire bought Hyderabad-based Versant Technologies. It bought Applied Development of Belgium in April 2014 and services business of Chennai-based SRA Systems in July 2014. “We will complete the consolidation process of these acquisitions in the next six months-to-one year, and we have already started the amalgamation process,” said Mr. Subramanian.
The company expects to close with revenue of $42-45 million in FY15, when compared to $31 million in FY14.
Aspire, which counts Apple, Pearson and Fidelity Investments has its marquee clients, has raised $12 million in working capital and term loans, which will be used to fund future acquisitions and expansions.
