The company made the announcement after trading hours on Tuesday, 7 June 2011.

Meanwhile, the BSE Sensex was down 108.26 points, or 0.59%, to 18,387.36.

On BSE, 2.88 lakh shares were traded in the counter compared with average volume of 25,000 shares over the past two weeks.

The stock hit a high of Rs 59.45 and a low of Rs 51.75 so far during the day.

Thinksoft Global Services said it will fund its acquisitions through its internal cash accruals. This decision of inorganic growth option is based on business environment scanning, monitoring and assessment of the relevant market and technology trends worldwide vis-s-via Thinksoft's own strengths and track record as a provider of expertise, the company said in a filing to the stock exchanges.

The target companies, either India-based or otherwise, would have to be strategic value to Thinksoft either in terms of extending market or adding new geographies and/or bringing new offerings/expertise/specialization/IP to the table, the company said.

On a consolidated basis, Thinksoft Global Services' net profit fell 77.3% to Rs 1.87 crore on 0.1% increase in net sales to Rs 82.93 crore in the year ended March 2011 over the year ended March 2010.