Infosys makes 5 acquisitions worth $808 Million in FY26

Indian IT services companies are turning increasingly aggressive on mergers and acquisitions as they navigate a period of slowing revenue growth and rapid disruption from artificial intelligence. Infosys has emerged as one of the most active players in FY26, announcing two fresh strategic acquisitions: Optimum Healthcare IT, a US-based healthcare digital transformation and consulting firm, for $465 million, and Stratus Global (also referred to as Stratus), an insurance technology solutions provider, for $95 million. With these deals, Infosys has completed five acquisitions in the fiscal year, spending a total of approximately $800–808 million — one of the highest single-year acquisition outlays in the company’s recent history.

The latest deals, expected to close in the first quarter of FY27, will strengthen Infosys’ capabilities in healthcare digital transformation (including AI-powered cloud solutions) and property & casualty insurance technology. For Infosys, the current year’s spend far exceeds previous levels. In FY25, the company spent a little under $500 million on acquisitions, while earlier years saw mostly smaller tuck-in deals.

TCS, long known for its strong emphasis on disciplined organic growth, has also made a notable strategic pivot. The company spent around $773 million on acquisitions and related data center investments in FY26 — its highest outlay since listing in 2004. Management has indicated that more deals are in the pipeline. In contrast, HCLTech and Wipro have pursued M&A more steadily. HCLTech spent about $420 million across four acquisitions this year, while Wipro completed one larger deal — the acquisition of Harman DTS for a little under $400 million. Wipro has a history of bigger bets, including past acquisitions like Capco and Rizing.