US software firm scouts for India acquisitions

US software firm scouts for India acquisitions:

India News: Bangalore, March 2 : ASG, the US-based leading enterprise software solutions provider, is scouting for acquisitions in India to expand its market in the sub-continent.

Launching its sales and marketing operations in India with offices in Mumbai and Bangalore simultaneously, the Florida company is in talks with select Indian firms that are in software solutions development and not in services space.

"We intend to make one or two strategic acquisitions in India this year for setting up a product development centre. We will shortlist the potential firms for a buyout after buttessing their synergies to leverage with our strengths in the enterprise Debt Management software," ASG president & CEO Arthur L. Allen told reporters here Wednesday.

Though the $168 plus 1 million ASG has about 10 customers in India across verticals such as telcos, banks and multinationals in IT domain it is keen on ramping up its presence for a pie of the growing enterprise market.

"There is a shift in the economic centre of gravity away from the US and Europe towards the Asia-Pacific region. We consider India not only as a major technology contributor but a technology consumer.

"We see huge opportunity for our software solutions across the verticals in the wake of all-round economic activity here, especially in outsourcing and offshoring," Allen said.

With several US and European firms setting shop in India for product development or research in cutting-edge technologies, ASG will pitch for big projects to offer its enterprise Debt Management software solutions.

"Over the years, we have seen a similar growth in China, enabling us to open our fourth office to meet the enterprise demand. India Inc is poised to embrace our solutions and products," Allen said.

In a bid to build partnerships with Indian tech firms, ASG is in discussions with major software companies such as Infosys, Patni Computers and Satyam.

The company earmarks one-third of its revenue towards R&D in new solutions, product enhancement and maintenance. With 200 software solutions and products, it has so far subscribed 35,000 licences to about 7,500 customers, worldwide.

--Indo-Asian News Service