#MintLongStory | For decades, India’s IT industry ran on a simple formula—the biggest companies won the biggest deals. AI is changing that, and a new generation of mid-sized firms is seizing the opportunity.
Persistent Systems’ proposed $1.3 billion acquisition of Germany’s Nagarro and Coforge’s $2.35 billion buyout of Encora are more than expansion moves. They are attempts to build the global scale once enjoyed only by the industry heavyweights.
While India’s top IT firms posted flat to mid-single-digit growth last year, mid-tier players delivered double-digit expansion, with Coforge growing nearly 30%.
But there’s one metric where the mid-tier is still lagging — profitability. Read more: livemint.com/industry/infot…
by @shelley_singh1
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