IT firm HCL Infosystems today said it is scouting for acquisitions, worth up to USD 100 million, in emerging markets like Africa to expand its footprint globally and strengthen its services portfolio.

HCL Infosystems Chief Executive Officer Harsh Chitale said, "We are looking at opportunities across emerging markets like Africa and Middle East."

The company is looking at services acquisition of USD 50-100 million, while a geography-centric acquisition could be of the size of USD 6-10 million.

"We are looking at acquisition opportunities that would help us get into additional services or something that helps us in geographic expansion," HCL Infosystems Chairman Ajai Chowdhry told reporters here.

HCL Infosystems currently offers services like system integration, IT infrastructure consultancy, ERP consulting, IT audit and managed services.

HCL Infosystems had raised about USD 200 million last fiscal to expand its operations and finance its acquisitions.

When asked about the African market, he said the continent has great opportunity as labour cost arbitrage and the environment is similar to that in India, Chowdhry added.

In July this year, HCL Infosystems had acquired a 60 per cent stake in Dubai-based IT services and solutions provider NTS Group.

The acquisition of NTS has helped HCL Infosystems in expanding its presence globally and tap the opportunities in the Middle-East and African markets.