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IT large caps back on acquisition track to boost skills, footprint

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India’s leading software services companies have accelerated their acquisition activity after a two-year lull.

Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, and Tech Mahindra together made seven acquisitions so far in 2025, up from five in 2024 and just two in 2023, according to Tracxn data.

The tally included TCS’ purchase of ListEngage for $72.8 million; three by Infosys including a 75% stake in Verset for $153 million, The Missing Link for $98 million, MRE Consulting for $36 million; HCLTech’s buy of Nuance for $15.6 million, and the…

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