Software Solutions has initiated tie-up talks with NASDAQ and has identified acquisitions as a major growth engine.
Software Solutions Integrated (SSI) has interests in information technology (IT) training. It is also engaged in providing software solutions and product development.
As reported by a leading financial daily, SSI has informed the Bombay Stock Exchange (BSE) about its discussions with the NASDAQ, the US technology-weighted exchange for a mutually beneficial relationship to provide software services. However, the company declined from giving any more details.
SSI is also planning to acquire vertically-focussed software product companies. It plans to acquire three companies in the region of US$ 3.5 m. But the companies has set a time-frame for itself and will drop its acquisition plans if it can't zero in on a target company within the time-frame.
SSI's tie up plans with NASDAQ is another indication of the recognition that Indian software companies have been getting in overseas markets. The NASDAQ project is sure to be a prestigious assignment, and SSI can hope to bag more projects if it can execute this one well.
As far as its acquisition agenda is concerned, SSI has shown more common sense than some other software companies who have rushed into acquisitions without thrashing out the modalities. By setting up a time-frame, it has underlined the fact that it will target companies, but only within a pre-determined period.
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