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.
Sierra-Cedar deal is doing the rounds and sources indicate that top Indian IT companies TCS, Infosys, Tech Mahindra, HCL Tech have all shown interest in the company on sale.
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.
