JK Tech on the prowl for global buys

NEW DELHI: JK Technosoft (JKT), a global software and solutions company from the JK stable, has drawn up a mega expansion plan.

The company has earmarked more than Rs 100 crore to be used during the next three years for global acquisitions. The tech company will also increase headcount to over 1,000 from the present 600 by end-March 2008.

Satish Gupta, executive director of JK Technosoft, told DNA Money, “We are scouting for inorganic growth through niche players in our chosen verticals and expect to close a couple of deals in the next nine to 15 months.”

The targets are small technology firms working in the domain of retail, healthcare, consumer goods and cement. The company is looking at domain-centric business to drive growth in the next phase.“We are looking at a combination of internal accruals and the private equity route to fund the expansion plans. An initial public offering (IPO) is another route we are most likely to take in these three years,” Gupta added.

It is also looking to double revenue to more than Rs 100 crore for 2007-08.