Bangalore: India’s largest
software services exporter Tata Consultancy Services (TCS) and fast-rising
challenger Cognizant have entered the race to acquire Lodestone Management
Consultants, the Zurich-headquartered management and technology consulting
firm. Infosys is the other company in the fray.
Sources with direct knowledge of the development have confirmed that all
three IT majors have responded to the invitation of bids from the Swiss firm,
which has revenues of 207 million Swiss francs. This is perhaps the first time
that all the three heavyweights are in a race to acquire a firm. FE was the first to report that Infosys had entered into talks with Lodestone with an intention of acquiring it. In its report on July 14, FE had said Lodestone could be valued in excess of $300 million, about 1.5 times the firm’s revenue.
The competitive bidding for Lodestone has a lot to do with the present state of the Indian IT
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