Fulcrum Digital Inc., which provides solutions to global customers to accelerate their digital transformation, is exploring several acquisitions to strengthen its service offering, said Rajesh Sinha, president.
He said the company, which has a large presence in India, will also add 1,200 people in two years.
“We are seeing a certain inorganic growth and have started looking for some companies in India,” said Mr. Sinha, who is also the founder of the company.
“We will acquire companies that are in fintech, insurtech, foodtech or healthcaretech. And they need [each] Anything between $15 million to $30 million in size. It could even go up to $40 million.”
Since the market lacked highly skilled resources, the company was also looking for firms that had talented people.
“We are looking for technology people like that and if we merge or get them into our portfolio company, we can accelerate and deliver more value,” he said.
Innovative technology and data science companies are also under the radar, he added.
Mr Sinha said Fulcrum was in talks with financial institutions to raise capital for the acquisition.
“We are almost in the final stages of getting the funds. So while it’s ready and we’ve identified the size of the business that we want to consider, that’s why June [2022] It’s critical time to close deals and go to market.”
He said that the company is exploring various avenues for acquisition.
“Two acquisitions if they are small in size but only one acquisition if they are large. And after that takeover, we’ll get a more aggressive enemy takeover again. We don’t have to wait too long. We want inorganic growth for ourselves.”
On the resources front, the company has recently hired around 100 freshers and juniors and has now added 100 more by March, 2022.
He said that the company is running a big campaign to recruit people and plans to give jobs to 1200 people in two years.
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