Infosys recently completed a successful ADR raising $70.38 million, part of which could be used for fresh takeovers, said company chairman and chief executive officer NR Narayana Murthy.

Of this, $4 million had been spent by the company in roadshows."If there is an opportunity which means value for money for us and has synergy with our business, we will go for the acquisition," he said. However, the plans are yet to crystalise, added Murthy.

The targeted company therefore could be in the services sector, or have a product which will provide Infosys suitable opportunity for customisation.

Murthy also indicated at the possibility of the company going in for a second round of employees stock option (ESOP). The issue will come up at the annual general meeting of the company scheduled for June 12.

Earlier, delivering a keynote address on corporate governance at the CII annualconference, Murthy exhorted corporate managers to gear up for exports.

"If India has to grow in the next century, 20 per cent of gross domestic product has to come from exports. In the next five years, exports have to grow to 15 to 18 per cent from the current level of 8 to 9 per cent to achieve the desired growth," he added.

"To compete in the global market, it is important to have knowledge on real-time basis. In this context, internet will be of great advantage," he added.