Mastek Denies Acquisition Talks: Focuses on Strategic Growth

Mastek, a mid-tier IT company, asserts it is not in any negotiations for a deal with Zensar Technologies. CEO Umang Nahata highlights the company’s focus on standalone growth despite unsolicited offers. They aim to leverage business strengths, targeting US markets amid Indo-US relationship gains.

Mastek, a mid-tier IT powerhouse, has confirmed it is not actively discussing any potential deals with Zensar Technologies, focusing instead on its independent growth trajectory, according to CEO Umang Nahata.

Nahata revealed to PTI that despite receiving unsolicited offers due to its 'undervalued' status, Mastek remains committed to enhancing its business operations, particularly capitalizing on opportunities in the medium term. Media reports previously suggested a deal might be worth over USD 800 million, but Nahata denied any active negotiations.

With a focus on competency and market strategies, Mastek has witnessed a 12 percent workforce reduction, boosting revenue per employee. The company plans to strengthen its presence in the US market amid improving Indo-US ties, while share negotiations remain off the table, even with some liquidity-motivated promoter sell-offs.

(With inputs from agencies.)