Business

Fulcrum Digital scouts for multiple acquisitions

Fulcrum Digital Inc., which offers solutions to global customers to accelerate their digital transformation, is scouting for multiple acquisitions to strengthen its service offerings, chairman Rajesh Sinha said.

The company, which has a large presence in India, would also add 1,200 people in two years, he added.

“We are looking at a certain inorganic growth and have started scouting for some companies in India,” said Mr. Sinha, who is also the company’s founder.

“We will acquire companies which are into fintech, insurtech, foodtech or into healthcaretech. And, they should [each] be anything between $15 million to $30 million in size. It can go up to even $40 million.”

Since there was a scarcity of highly skilled resources in the market, the company was also looking for firms that had talented people.

“We are looking for those kind of technology people and if we merge or get them into our portfolio company, we can accelerate and deliver more value,” he said.

He said also under the radar are innovative technology and data science companies.

Mr. Sinha added that Fulcrum had been talking to financial institutions to raise the capital for acquisitions.

“We are almost at the final stage for getting the funding. So while that is ready and we have identified the sizes of the business which we want to consider that is why June [2022] is important time to close the deals and go into the market” he added.

He said the company is looking at multiple tracks for the acquisitions

“If they are smaller in size then two acquisitions but if there is one big then only one acquisition. And after that acquisition, again, we will get more aggressive foe acquisition. We don’t need to wait too long. We want an inorganic growth for us,” he added.

On resourcing front, the company has recently hired about 100 fresher and junior people and now adding another 100 people by March, 2022.

He said the the company is running a big campaign to recruit people and the plan is to hire 1200 people in two years.


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Printable version | May 18, 2022 8:50:04 am | https://www.thehindu.com/business/fulcrum-digital-scouts-for-multiple-acquisitions/article38038125.ece