One of the biggest IT Company in India, Infosys Technologies has said that it is looking forward to buy small firms based in France and Germany rather than going for big corporate buys.

The size of these companies, said Infosys, should be in the range where 10 per cent of their income should be $500 million.

Talking about this to a private news channel, ET Now, Kris Gopalakrishnan of Infosys said that when their own company can show a growth rate of 16-18 percent, there is no reason why they should go for turnaround stories.

This is in answer to the news reports which said that Infosys is looking for buying big European companies like Atos Origin, Capgemini and other of the like.

Answering as to why such speculations are happening, Kris said that it is obvious considering the fact that these firms, as compared to their Indian counterparts, are doing badly.

These companies, in order to save on their costs, have shifted their workforce from Europe to other nations including India.

And since Europe is not doing well itself, Infosys would like to consider other options.