New TCS CEO for buyouts to build up strength, not just revenue
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Last Updated: Tuesday, October 06, 2009, 22:01
Mumbai: Making his strategies clear, new chief of TCS N Chandrasekaran today said the company would look for acquisitions, which will add to its capabilities, but ruled out buyouts just for hiking revenues.

"If at all we have to increase the pace of growth, we will have to leverage much stronger... we will grow our organic growth potential. For that we will have to do acquisitions to build up capabilities," he told reporters after taking charge as Tata Consultancy Services CEO here.

For acquisitions, Chandrasekaran cited Europe and Japan as possible geographies, but said the company would not go for any buyouts just "in terms of buying revenue".

The company's focus would be mainly on leveraging its tools on the back of strong organic growth. It would work on delivering performance, which would translate to better shareholder values, he said.

"A major task is to leverage our potentials... we will certainly leverage our full service offerings and go for larger deals, where we can help out clients," he said.

The USD six billion IT major, which has 1.4-lakh employees, is listed on the National Stock Exchange and Bombay Stock Exchange.

The new TCS CEO said the company, which is the country's largest software exporter, would continue to focus on emerging markets where investments would be made to grow operations.

Chandrasekaran, who succeeds S Ramadorai, has served the company as chief operating officer (COO) and executive director.

Bureau Report

First Published: Tuesday, October 06, 2009, 22:01

Tag: TCS
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