Indian Software Group (ISG), an Indian software company, said Tuesday that it is looking to acquire a US or European software company. President Shankar Kumar was reported in the Indian press as saying that the ISG is currently talking to two companies involved in workflow and document management systems and a third with operations in graphics handling. The three companies being considered for acquistion are valued at between $10m and $20m, but Kumar said no ceiling has been set on the amount of funds that can be used for [an] acquisition. The move is part of ISG’s long-term plans to increase its presence in the international software sector. The company already has partnerships with Oracle, Lotus and the SAS Institute but Kumar stressed that the company is now looking to make an outright takeover rather than further partnerships. ISG is part of the Indian conglomerate, K K Birla group.
