Indian IT firms look at overseas AI assets for acquisitions
Indian IT firms are scouting US and European targets with $20m-$60m revenue in data and AI. Reported by Mint and published by Moody's.
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what happened
Top and mid-sized Indian IT services and SaaS companies are looking at overseas firms with annual revenue of $20 million to $60 million in the US, the UK and Western Europe. The goal is to strengthen data analytics and artificial intelligence capabilities. According to Mint, deals in the $100 million to $200 million valuation range are also under way.
London-based Datatonic is considering a stake sale and has drawn interest from international companies, including large Indian IT services firms. Singapore-based Mystifly has received interest in a deal likely to value it above $100 million. Sources say the talks are preliminary and no final decision has been made on either transaction.
Earlier, Tata Consultancy Services bought Coastal Cloud for $700 million, and Infosys completed its purchase of Optimum Healthcare IT for up to $465 million.
why it matters
The deals point to ongoing consolidation: organic growth is slowing and clients increasingly pay for data and AI work. For investors this signals more M&A in the sector, but the size and timing of the deals remain unclear, and some talks may not close.
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- Indian IT firms eye $20m-$60m US and European AI targets in outbound M&A push — Moody's, 21 October 2026 at 03:34 UTC
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