BANGALORE, India—Infosys Technologies Ltd. plans to nearly double its work force in the U.S. and remains on the lookout for acquisition targets in Germany, France and Japan, its chief executive said.
India's second-largest software exporter by revenue after Tata Consultancy Services Ltd. is planning to hire 1,000 employees in the U.S., Chief Executive S. Gopalakrishnan said in an interview.
The company, which had 1,200 U.S. employees as of March 31, had said in April it would hire more staff there. As of Sept. 30, it had a total of 105,453 employees.
Infosys CEO S. Gopalakrishnan, pictured in April, said the company plans to increase its work force in the U.S.
Infosys gets about 66% of its revenue from the U.S. market. The company joins other Indian software exporters in gradually stepping up hiring to prepare for an expected increase in outsourcing deals as technology spending makes a modest comeback in developed nations.
The company has been trying to reduce its U.S. exposure by increasing its operations in Europe and Asia, which account for about 23% and 10% of its revenue, respectively.
"Ordinarily we look at a company of 10% of our size" for acquisition, Mr. Gopalakrishnan said, adding that a prospective target would have $300 million to $500 million in annual revenue.
He didn't provide details on the business segments it is targeting for acquisitions. Mr. Gopalakrishnan had previously said the company was looking to acquire firms offering services to the health care and utilities sectors to boost its consulting and outsourcing businesses.
Mr. Gopalakrishnan said Infosys's revenue growth in the next fiscal year, starting April 1, will be driven by new outsourcing contracts. But for this fiscal year, "we are looking at almost zero-percent growth," he added.
In October, the company had forecast $4.60 billion to $4.62 billion of revenue for the current fiscal year, down 1% to 1.3% from a year earlier.
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