Indian IT firms eye $20m–$60m US and European AI targets in M&A push

Indian IT and SaaS companies are scouting US, UK and Western European firms with $20m–$60m in annual revenue to build data analytics and AI capabilities. Deals are being discussed at $100m–$200m valuations, with London-based Datatonic and Singapore's Mystifly among the targets.

• Target acquisitions have $20m–$60m in annual revenue
• Discussed valuations range from $100m to $200m
• Datatonic is exploring a minority or majority stake sale
• TCS bought Coastal Cloud for $700m; Infosys paid up to $465m for Optimum Healthcare IT