Aricent is out shopping

Former Flextronics Software Systems Aricent is now looking for companies to acquire in the US and Europe. Sources told that the next acquisition will be in the size of about $15-30 million. The sources also tell that Aricent has moved beyond the early stages of negotiation with one such takeover target in the US. “Most of the large service providers in the US have already defined their outsourcing strategy and their partners, and hence will be relatively difficult for a new company to make inroads. Through the acquisition, we intend to leverage on the existing relationships that these companies have already signed up," Aricent president and COO Manoranjan Mohapatra told ET. “We have a set of people in the US who are currently selling products and services to OEMs, a business that they understand well. But migrating them to a service provider practice will take longer and customer wins will take time without reference," Mr Mohapatra added. Besides US and central Europe the company is reportedly also looking at Sweden for acquisitions.