Cyient’s largest acquisition puts spotlight on buyouts by mid-sized IT companies to boost revenue

IT shopping receipts

Those acquisitions have pushed shopping bills for the nation’s 15 largest IT services companies to $5 billion since April last year. Coforge, Persistent Systems, Hexaware, Firstsource and Sasken finished last year with revenues of $1.87 billion, $1.65 billion, $1.54 billion, $1.08 billion and $126 million, up 29%, 17.4%, 7.6%, 14.6% and 93%, respectively.