These acquisitions are expected to be funded through the proceeds of a proposed private placement by the company, said DSQ Software managing director Dinesh Dalmia.

The company, on Monday, announced its intentions to privately place about three million shares with FIIs and other strategic investors.

It had sought the shareholders' approval at an extraordinary general meeting held here for this purpose. The strategic investors with whom DSQ is in talks include a few customers of the company. Some key customers have evinced interest in picking up a stake in the firm and this is being keenly explored, Dalmia said.

The company also acquired the shareholders' nod to hike its authorised share capital from the present Rs 35 crore to Rs 50 crore to enable the private placement.