Singapore: Tata Consultancy Services (TCS), India's top software exporter, will not be materially affected by the sell-off in global markets and demand should remain consistent, its CEO said on Friday.
The company, which is holding around $2 billion in cash and looking for acquisitions, will not take advantage of the environment to pick up companies unless they make strategic sense, N Chandrasekaran said while on a visit to Singapore.
"We are watchful, but at the same time, at the business level, we see a good demand environment, my deal pipeline is good," he said, referring to the global unease after the sell-off in markets.
Chandrasekaran had said last month the company was chasing 12 large deals in the United States, the United Kingdom, and elsewhere in Europe, and additional deals in emerging markets.
He said on Friday that remained the case.
On possible acquisitions, he said: "Our acquisition strategy is not based on whether some asset is available cheap."
"Our focus on acquisitions will be totally based on whether we can buy something which can give us a strategic capability that we don't have or which will take a long time for us to acquire otherwise. From that rationale, the situation doesn't change."
Chandrasekeran had said earlier this year that TCS was looking at opportunities in Japan and Germany in the healthcare sector.
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