IT company iGate is looking at acquiring companies in the healthcare and business process outsourcing space to scale up services.

iGate CEO Phaneesh Murthy told media that the company is looking for acquisition in health care and BPO space as these are the areas in which it is expanding. “We would like to acquire a company to get more clients, skilled people and scale up our business,” he said.

Murthy said that the company was flexible on price but there are very few companies on the block. “Even the companies are not willing to be sold as they know in these times their valuations are low”.

iGate has bagged three new clients in the BPO business (iTops), which currently contributes 15% revenue. The company hope to double that figure to 30% over a couple of years. Currently the company gets over 50% of its revenue from financial services vertical, whereas the rest is contributed by media and entertainment, manufacturing and retail.