Infosys CEO Salil Parekh talks about expansion: “...we're looking at some geographies”

Infosys

is planning to acquire companies in the Software-as-a-Service (SaaS) and

cloud computing

space. This strategic move aligns with the Indian IT giant’s recent acquisition trend, which aims to bolster its offerings in high-growth technology areas with significant potential for the coming days.
Addressing shareholders at the company’s 43rd Annual General Meeting (AGM),

Infosys CEO Salil Parekh

said: “We're looking at some SaaS areas, we're looking at more enterprise and cloud areas and we're looking at some geographies.” Watch the whole meeting here (Cue 41:16)

Infosys’ latest acquisitions

Parekh said that the Bengaluru-based firm recently acquired an engineering services company in the automotive sector and one in the semiconductor space.
Last month, Infosys acquired InSemi, a leading semiconductor design and embedded services provider, for Rs 280 crore.
Earlier this year, in April, the IT services company announced the acquisition of a German engineering R&D services provider with a focus on the country’s automotive industry named in-tech. However, Infosys didn’t disclose the financial details of this deal.

In response to a shareholder query on the company's acquisition strategy, Parekh said: “We look at strategic fit, financial reasonableness, and then cultural fit on how we can integrate. And based on that, we will proceed on the acquisition as and when those come about.”

Infosys’ AI and cloud plans

At the AGM, Infosys chairman

Nandan Nilekani

also mentioned that the company is working on 225 Generative Artificial Intelligence (Gen AI) programmes for clients. The company has developed 23

AI

industry blueprints to address specific challenges and has even integrated

Gen AI

components across all their service lines and created 25 playbooks to benefit clients.
In a presentation, Infosys also mentioned that it has filed 46 AI patents up to the financial year 2023-24. Nilekani also discussed the company's

Cobalt cloud services

, solutions and platform offerings.
“Our clients are combining it with cloud capabilities in Infosys Cobalt to help them scale AI,” he added.