Infosys, Wipro in race to buy US analytics firm: report

BANGALORE: Infosys Technologies and Wipro, India's second and third-biggest software firms, are competing to purchase a US analytics firm in a deal valued at up to 160 million dollars, a report said Friday.   

The Bangalore-based firms have shown early interest in buying New Jersey-headquartered MarketRX -- the first time they are both targeting the same acquisition, the Economic Times cited unnamed sources as saying.   

About five suitors have expressed interest in buying the company, which at 160 million dollars would be worth about five times annual revenue, the business daily said.   

The eventual purchaser would be able to tap MarketRX's established and potentially lucrative practice in analytics, including people trained in diverse branches such as mathematics, statistics and accountancy.   

Both Indian companies declined to comment on a possible transaction. Infosys and Wipro typically do not comment on reports about their takeover targets until a deal is sealed.   

Wipro this month paid 600 million dollars to buy US-based outsourcing firm Infocrossing, pursing what it calls a "string of pearls" strategy that calls for making acquisitions at a steady pace to build its global presence.   

Wipro is evaluating potential acquisitions in Germany and Canada, chairman Azim Premji said last month, without giving details.   

Infosys Technologies also said last month it was exploring possible acquisitions.   

The company has declined to comment on a report carried by a local daily in late June that Infosys will use its cash pile of 1.5 billion dollars to mount a takeover bid for Paris-based Capgemini.