Global internet company Yahoo! On Thursday said it is scouting for acquisitions in India and has identified some target companies.
NEW DELHI: Global internet company Yahoo! On Thursday said it is scouting for acquisitions in India and has identified some target companies.
"We have identified some companies (for acquisition). Our team in India keeps talking to potential targets. We have come here to go deeper in to the conversations and bring them to conclusion," Terry Semel, Chairman and CEO of Yahoo! said.
Yahoo's top management team is crisscrossing the country, talking to various potential partners and acquisition targets.
During this week they have been to Bangalore and Mumbai.
Today they were in Delhi to hold more meetings.
Semel said over the last five years Yahoo's strategy has been to build on its own or build with partners and build by acquisitions.
"We choose to do each one of these three in many countries. We have met a lot of people here in India. Some of whom we have met earlier... we met with people who could either be great as partners and to people we think we should be about buying and people who are doing things what we do not do," he said.
Yahoo! has a big engineering services and research and development team in India.
"The engineering group in India has been successful and we see every opportunity to see it growing dramatically," he said, refusing to divulge the headcount at the centre.
The Yahoo! R&D group creates technologies and products for the Internet while the engineering group provides quality assurance services and monitors and supports all Yahoo applications deployed worldwide.
He said India will be the most important country in Internet, though these are early days for the country.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}