India's Zensar targets U.S. deal by year end

By Harichandan Arakali

BANGALORE, June 8 (Reuters) - Indian IT outsourcing company Zensar Technologies is looking to spend up to $60 million on an acquisition this year to boost its presence in the United States, chief financial officer S. Balasubramaniam told Reuters on Friday.

The company is talking to several targets that are niche firms in two areas: consultancy and services around SAP AG's business management software, and data compliance, Balasubramiam said.

"We will do an acquisition anywhere between $30 million to $60 million," he added.

Zensar has 2 billion rupees ($36 million) in reserves and will make the acquisition via a combination of its own money and loans raised in the United States, the CFO said.

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