While the Indian IT firms are getting insistent in buying smaller ticket size companies in the US, sources with direct knowledge share that one such candidate, Sierra-Cedar with HQ in Georgia, US is close to launching a sale process soon. Valuation expectation for a complete sale of Sierra-Cedar is pegged at around $350 million, a source said.
An industry Expert says that “It is a strategic fit for most of the top IT companies and should generate enough interest”.
Sierra-Cedar operates in US, Canada & India. It is a integration services provider for Oracle and also has enterprise solution capabilities.
When contacted, TCS, Infosys, HCL Tech, Tech Mahindra declined to comment on the deal development. E-mails and phone calls to Sierra-Cedar’s US, India offices went unanswered.