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Berlin (pte035/24.11.2004/14:10) - Indian IT service providers such as Tata Consulting Services (TCS) http://www.tcs.com , Wipro, Infosys and Satyam Computer Services have revealed that they want to capture the European market and focus on purchases. The IT companies from the Indian subcontinent have already established themselves in the U.S and Great Britain, and are now placing markets such as those of France and Germany at the top of their list to expand into, the Financial Times Deutschland (FTD) reports today, Wednesday. At present, the five most important Indian IT service providers in Germany have a 0.4 percent share of the market. In the USA, the companies put together control 1,7 percent of the market.
"We have to focus on purchases to crack the European market", TCS Manager Phiroz Vandrevala told the FTD. According to Vandrevala, at present TCS has around 383 million euros for possible takeovers available. The company is also contemplating being listed on the stock markets in Europe and the USA to increase its profile. In the coming year, the turnover is set to increase by 60 percent. According to FTD, TCS wants to be amongst the ten largest IT consulting firms in the world by the year 2010. TCS expects a total turnover of the current financial year of more than 2 billion dollars.
His business rival Satyam is focusing on the increasing demand of European companies for IT outsourcing contracts. At present, Indian companies represent 16 percent of the market in the area. With the opening of subsidiaries in Eastern Europe, Indian providers are hoping to quash any fears that potential west European customers might have of the outsourcing of IT services. Both TCS and Satyam recently opened a software development centre in Hungary.
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