Indian IT companies continue overseas shopping spree

Silverline Technologies the latest buyer, snapping up a Hong Kong IT consultancy for $22 million.

Elton Cane

October 04, 2000

Fuelled by funds from foreign listings, India’s flagship IT companies have been on the acquisition trail of late, buying up other software and infrastructure firms to expand their business and further cement Indian IT’s position on the global stage.

Silverline Technologies is the latest big spender, announcing its intention to buy Hong Kong-based Sky Capital International (SCI) in a $22 million all-cash deal. SCI is a privately held IT consultancy and long-time client of Silverline with a turnover of $24.3 million in 1999-2000.

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