This is in line with the company's recent foray into the area of software solution development for the banking industry. The company kicked off its acquisition strategy with its recent buy-out of Rohan Software Ltd, a software consultancy and development unit.

Following this, many small and mid-size software companies in Chennai are reported to have made presentations to ICICI Infotech. Though the firm has not zeroed in on any local company, the prospects of at least a couple of them being taken over seem to be bright.

ICICI Infotech, formerly known as ICICI Investors' Services Ltd, caters to the needs of about 30 lakh-odd investors of ICICI Ltd. It provides share transfer and registrar services to ICICI and group companies. During the last one year, the firm diversified its activities into transaction processing and other software-relatedservices.

The firm, which already has an ISO certification, has put in place an integrated document imaging and management system for handling investor correspondence in ICICI group companies.

ICICI Infotech secured a total income of Rs 17.48 crore in the last fiscal with a net profit of Rs 3.01 crore. The share capital of the company stands at Rs 2 crore while its reserves are at Rs 2.74 crore.