The number of deals in the mid market technology segment haven’t been great in India. With little access to technology buyers in the US, Indian product companies often miss out on opportunities to get acquired. Over the next year or so, we are likely to see this change. We caught up with Kunal Walia, the Managing Partner at Khetal Advisors a boutique investment banking firm to understand if domestic demand to acquire software product firms is likely to pick up. Edited Excerpts of the interview.
Are the Indian IT services companies looking to acquire product companies?
No. Very honestly, I’m not sure where this notion comes from. There isn’t a single IT services company that I know in India who are looking at the current Indian products. Where is the enterprise startup? These guys need enterprise startups. If you want to sell your companies to them, you’d probably be building an insurance reservation product or a telecom switching gear which they can turn around and sell to a British Telecom or a banking suite. But where are those companies?
We’ve got great companies like WebEngage, Zoho or Zomato who are either SME...