The fast growing Indian IT industry has had its eyes glued on Denmark in recent months. Major concerns like Infosys, Wipro and Satyam have all set up shop in Copenhagen, initially with sales offices to service existing customers and scout for new ones. But they make no secret of the fact that their ambitions are greater.
Laxman Badiga, chief spokesperson for Wipro comments: "We are constantly on the lookout for companies that can fill the gaps in our competencies. Denmark has many smaller sized companies that could suit our needs. And I am particularly positive towards acquisitions." Badiga declines however to say how close Wipro may be to sealing any deals.
It's the same picture at IT company TCS, part of India's massive Tata Group, where the company's man in Denmark, Ragnar Norddahl, uses more than a third of his time looking at possible Danish acquisition targets. But likewise, he is not saying how close he is to putting any offers on the table.
One of the people actively encouraging Indian companies like these to look at Denmark is investment manager Shanker Subramaniam of Invest in Denmark. From his office in the Indian IT city of Bangalore he has been busy on the case for the last two years. He confirms that strategic acquisitions in Denmark by Indian companies are on the cards.
"India is looking at Denmark primarily as a business opportunity. But in 3-4 years' time the Danish market – viewed in isolation – will not be big enough, so we are putting efforts into selling Denmark as a platform for development. I am certain that Indian companies will fully recognize the country's excellent position and the opportunities provided by the Danish workforce, once they are there," says Subramaniam.
The news was reported by professional journal Ingeniøren (The Engineer).