Indian IT companies continue overseas shopping spree

Silverline Technologies the latest buyer, snapping up a Hong Kong IT consultancy for $22 million.
Fuelled by funds from foreign listings, Indias 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 ITs 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.

Silverline Technologies is a provider of IT and outsourcing solutions with a focus on e-business, CRM, legacy transformation and application maintenance. It already has a...

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