Infosys chief executive and managing director Vishal Sikka on Tuesday said the company is mulling over acquisitions 'similar' to how Accenture and Cognizant did to achieve its $20 billion revenue target by 2020.
He hinted at it while speaking at a conference organised by domestic brokerage Motilal Oswal.
"If you look at the number of the companies Accenture has bought or even Cognizant, there is obviously a very systematic and highly efficient way in which they execute all these things," Business Standard quoted Sikka as saying.
"I think we need to do something like this as well. Not to copy them but I think the rate at which interesting innovation is built outside is something that has to be adopted and embraced," he said.
So far this year, the Bengaluru-based IT firm has acquired two companies, Israel-based automation technology solutions provider Panaya and US-based mobile e-commerce solutions provider Skava.
India's second largest IT firm estimates that acquisitions will contribute nearly 7.5% of the overall $20 billion revenues it aims to achieve by 2020.
"When I talk about the $20 bn by 2020 and 30 per cent margin and $80,000 revenue per employee, the way we break down the $20 bn top line is that we would like to get $1.5 bn out of that through acquisition," he said.
While announcing its results for the March 2015 quarter, Sikka had said the company would aim to boost its revenues to $20 billion from the current $8.7 billion over the next five years, besides improving employee productivity by 50%.
Infosys reported a sequential revenue growth of 4.5% during the June 2015 quarter in dollar terms, the highest in the past 15 quarters.
The IT giant increased the size of its start-up fund by five times to $500 million in January this year. Besides, Sikka has allocated $250 million for investments in Indian start-ups.
