Patni Computer Systems Thursday announced it is keen on taking up more acquisitions in a bid to expand and grow its business. The software company said it is currently considering investment acquisitions pegged at a price tag of more than $25 million and is expecting to close at least a single deal before the end of September, 2010.

The company further said that it will be spending about $200 to $300 million on the investments in 2010. This was revealed by the software firm’s chief executive, Mr. Jeya Kumar during the release of the company’s 2010 financial year results. In that regard, the investments will mainly target businesses in the product engineering space in which, according to Kumar, the company has witnessed considerable growth.

Kumar further indicated that the software firm will be keen on other deals too with regard to expanding the business into areas it currently does not operate. Such acquisitions will be for expanding the company’s portfolio and the investments, according to Kumar, will be undertaken either for access or for scale purposes. As such, the access to be acquired through such investments will be aimed at areas where the company does not have a presence and for verticals it does not currently have, Kumar said.

The New York Stock Exchange Listed Patni Computer Systems is India’s estranged founder of the second biggest software Services Company in the country, Infosys Technologies. On 31st June, Patni Computer Systems acquired an American based company, CHCS Services Inc, a unit of the Universal American Corp. However, officials from the company firmly reiterated that the company was keen on closing more than one acquisition before the year ends.

At the release of its financial results, the company reported a June quarter consolidated net profit increase of 7.6% pegging its profits at 1.47 billion rupees. The profits were bolstered by foreign exchange gain and according to company officials, sustaining the growth will be challenging. However, the company hopes its operating margins will range from 15% to 17% for 2010, Surjeet Singh, the company’s chief financial officer revealed; adding that the company was contented with the margins.

The company is currently keen on an additional 800 to 1000 employees this year and this will especially target its business process outsourcing operations, insurance and manufacturing segments. Currently, it has about 15,000 employees as its overall headcount. The company’s shares were down 5.9 percent at 480.6 rupees in a weak Mumbai market.

29 July 2010.