Mumbai, Feb 1: Sierra Atlantic Inc of the US is looking at domestic infotech companies for possible acquisitions. The company, which is readying for a Nasdaq listing in the third-quarter of 2000, has set its sights on Indian services firms specialised in customer relationship management (CRM) implementation, dotcom development or Internet procurement implementation."We are open to using acquisition route to scale up fast. Acquisitions in home market (America) can not be ruled out," a top company official said. Sierra, beginning the acquisition spree in India, has already garnered a 26 per cent equity stake in the Hyderabad-based Sierra Optima Ltd for an undisclosed amount.
Sierra Atlantic is promoted by top notch professionals from Oracle, Intel and Lucent in association with a couple of venture capital funds (VCFs). The company offers employee stock option plan (ESOP) to all its employees.In the first-round of venture capital funding, the promoters have already offered equity stakes to Walden International Investment Group (WIIG), NEA and GE Equity to raise about $17.4 million in mid-1999. However, company officials declined to comment on the options to raise funds or quantum of funds earmarked for the proposed acquisitions in India.
Sierra Atlantic has a 350-strong global delivery team to oversee its entire business worldwide, the official said.
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