KPIT Cummins Infosystems Ltd. is looking for acquisition opportunities. KPIT's Chief Executive Officer and Managing Director, Kishor Patil told NewsWire18 that KPIT is looking to acquire a company in Europe that operates in latest technology areas such as cloud computing. The acquisition will be funded with cash in hand, and the money raised by KPIT through a preferential issue of shares, Patil added.

KPIT held cash and cash equivalents of INR 4 billion as on December 31, 2012. In Europe, KPIT is keen to buy a company based in Germany, Patil said but refused to shares details on the ticket size, or targeted timeline for the acquisition.