Declining to give out the names of the three firms, SSL chairman and CEO Kalpathi S Suresh, said that the talks with the three companies are at an advanced stage and the acquisition is likely to be completed by June 2000.

Each of these companies, located in Bangalore, Delhi and Chennai, has a current client base of about 8-10 people, he added. Speaking to mediapersons after the EGM of the company in Chennai on Thursday, Suresh said that the company has set apart a sum of $ 15 million (Rs 63 crore) to finance the takeover deals. Each acquisition is likely to cost about $ 3-5 million (Rs 12 to Rs 21 cr), he added.

Highlighting the funding pattern, Suresh said that the entire sum would be raised from internal accruals. The acquisitions are expected tobe made in the name of SSI Technologies, the new consulting division of the company.

With all these additions, Suresh hoped that SSI Tech would be able to earn a total revenue of about $ 7 -8 million (Rs 29 crore) by the end of the company's fiscal year ending June 2000. By September 2000, SSI Tech would accrue about $ 11-12 million (Rs 50 crore), he added.

On the lines of business activity of Indigo Technologies, SSI Ltd's latest acquisition, Suresh said the company was in talks with Nasdaq to implement a software project. Since the transactions of the American stock exchange is also on the Tandem platform, the company was seriously negotiating with the exchange to bag the order, he said. However, he refused to divulge any further information on the project.

With plans to expand its training centre network, Suresh said that the company has decided to invest about Rs 30 crore in expanding the infrastructure during the current year. During the first quarter ended September 30, 1999, SSI Ltd hadincreased the number of its franchise network to 230 from 145 centres and also opened an overseas training centre at Malaysia.

The company had reported a revenue of Rs 34.43 crore for the first quarter period ended September 30, 1999. Its net profit during the period was at Rs 6.75 crore. The current paid-up capital of the company was Rs 11.87 crore.