LGS Global To Raise $30 Mn For Acquisitions

LGS Global Limited is raising upto $30 Mn by issuing FCCBs to fund it's acquisitions and expansion.

The company is conducting due diligence of two companies in the healthcare space. It has appointed Grant Thornton as an advisor.

LGS expects to acquire both the companies - one in US and the other in UK by September this year for a total consideration of $20 Mn.

Transaction Reference: BS

LGS Global - earlier known as Lanco Global Systems Limited provides End-to-end Enterprise Solution Offerings and Specializing in ERP Solutions, Microsoft and Open Source Systems development.

Its clientele include BASF, GE, Federal Reserve Bank and Seimens among others. earlier in the month, it got a contract from Mountain Area Community Service (MACS) of North Carolina in the US to provide IT Services.

It had acquired US-based software consulting companies Global IT and TechOrbit Inc for $4 Mn in December 2006.

Offlate a number of Indian outsourcing companies have been acquiring companies abroad.

earlier in the year, Firstsource Solution had announced its acquisition of Barclaycard's cutomer service centre in Teesside, UK and last month, Accentia Technologies acquired stake in UK based IQ Group.

Mastek is also negotiating with 3-4 companies in North America and UK for acquisitions to expand its presence in the insurance sector. The deal size is expected to be between $30-50 Mn.

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