CSS Corp is open to acquiring firms with a ticket size of around $50-60 mn to support organic growth
Tandon, the former executive vice-president of Infosys, had joined the IT services firm almost a year back when the company’s revenue growth was flat.
“In the past couple of years, CSS Corp had been seeing flat revenues. Furthermore, towards the start of financial year (FY) 2017-18, NASSCOM projected the slowest growth rate for the IT industry in nearly a decade at seven-eight per cent. In this testing environment, CSS Corp has started clocking a q-o-q (quarter-on-quarter) topline growth rate of three per cent in the past two quarters,” said Tandon.
“My vision is to create a new-age company,” Tandon explained. The company is working on the latest technologies and has come out with an artificial intelligence platform, called Cognitive CX Platform, to support its customers.
The company is also open to acquiring companies in the ticket size of around $50-60 million to support organic growth. CSS Corp would look at adding more people, cloud, and infrastructure capabilities through the inorganic route. A private equity firm owns the majority stake in the company, which can either raise funds from the owners or look at other options for funding.
In 2016-17, the company earned $150 million in revenue. It expects this figure to go up by around 15 per cent this year.
In 2013, Switzerland-based investment manager Partners Group had picked up the majority stake in CSS Corp for around $270 million, according to reports. Through this deal, SAIF Partners, Goldman Sachs, and Sierra Ventures made their exit from the company.
Preview: Business Standard