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 March 7, 2013

2012 Took Its Toll on $100 Billion Industry
Brighter Outlook for IT in India 


India's economy experienced its worst performance in a decade in 2012, but is expected to rebound in 2013. This is good news for India's IT Services industry, which is particularly vulnerable to economic uncertainty.


What's behind the optimism for 2013? A recent shift in government policy has led to economic reforms. In addition, the government has reaffirmed its commitment to improving infrastructure and communications services across the country. 


A key beneficiary of these actions is India's rising middle class -- and that spells opportunity for IT firms in new domestic markets such as mobile payment systems.


But to thrive, Indian IT firms will also need to go global, and this will require cross-border acquisitions. If executed well, acquisitions in emerging growth markets could bring IT Services firms back to same growth path they enjoyed a few years ago.


There is good news here, too. The large cash balances held by Tier I Indian IT providers such as Wipro, Infosys and TCS should allow them to be aggressive in pursuing such acquisitions.


For a more complete analysis of what to expect from the Indian IT Services industry in 2013, read Gaurav Sharma's post in VCCircle here.


To learn more about martinwolf contact Matthew Putzulu at  

About martinwolf    


     San Ramon Office          
             San Francisco, CA                                                Bangalore, India

With offices in San Francisco and Bangalore, India, martinwolf is a leading middle market M&A Advisory focused on companies with IT services-based business models. Since 1997, our team has completed more than 115 transactions in six countries. We are a five-year member of the Merrill Lynch PS Referral Network, and were selected as ICICI Bank's (India's leading private bank) exclusive strategic partner for acquiring U.S. IT companies. martinwolf is a member of FINRA and SIPC. For more information, visit


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November 6, 2012

Rolta, through its subsidiary Rolta International, Inc. announced that it acquired AdvizeX Technologies, LLC, a US company providing a comprehensive set of IT products and services ranging from roadmap planning to cloud-computing implementation strategy. With the acquisition, Rolta is now one of the top national partners of Oracle, Microsoft, HP, EMC and VMware in the US. Rolta was represented by martinwolf in the transaction. 

Please click here to view the announcement.


June 15, 2012

glendonTodd Capital LLC announced that it acquired Aztec Systems, a leading provider of enterprise technology solutions to hundreds of U.S. middle-market companies. Aztec was represented by martinwolf in this transaction. Aztec, a member of Microsoft's Presidents Club, was recently ranked 27th in revenue on Bob Scott's 2012 Top 100 VARS list and serves more than 700 middle-market clients. Terms of the transaction were not disclosed. Please click here to view the announcement.


December 1, 2011

Softchoice Corporation (TSX: SO) announced it has it has fulfilled its regulatory requirements under the Competition Act and has now completed the acquisition of substantially all of the assets of UNIS LUMIN, one of Canada's most highly regarded Cisco networking and managed services companies. Softchoice was represented by martinwolf. The acquisition strengthens Softchoice's professional services capabilities while providing the technology foundation to support the Company's future cloud offerings.

Please click here to view the announcement.   



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"Many of India's IT companies must change or adapt what the do - or they will continue to work harder for less."

Gaurav Sharma