Mastek eyeing acquisition in N America, UK

IT major Mastek is eyeing an acquisition in the insurance vertical in North America as well as the UK, and could spend up to USD 50 million for the same, a senior company official said. Our focus is to grow in the insurance sector - both life and general -- in these markets. We are already operating here and are talking to three-four firms for a potential buy-out. The deal size could be between USD 30-50 million. This is our sweet spot, Mastek s Chief Financial Officer Farid Kazani said. Mastek, which provides IT services to insurance, banking and finance firms, ...

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