Infosys on Thursday said it is scouting for acquisitions to grow its products and platform business, which it expects will contribute one-third of its revenue in the next 5-7 years.
"We are looking at building assets ourselves and we will also partner with our clients to co-create (assets) as this will be crucial. We will also look at acquisitions... to convert it to products and platforms," Infosys CEO and MD S.D. Shibulal said at the Infosys Innovation Day.
Infosys expects 33 per cent of its revenue to come from products and platforms in the next 5-7 years. At present, the segment contributes a little over 6 per cent to revenue.
Shibulal said: "Currently, about 4 per cent of the revenue comes from Finacle, while the other products and platforms contribute about 2 per cent. Today, we have 12 platforms and nine products from six platforms at the end of FY11.”
"To reach a portfolio of 12 products and 12 platforms, we will have to build IP assets ourselves, co-create with clients as well as grow inorganically," he said.
Infosys, which is sitting on a cash pile of over $3 billion, has met criticism from investors and analysts as rivals like Tata Consultancy Services and Wipro have boosted their businesses with multiple acquisitions.
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