Motherson Sumi Systems Limited (BSE:517334) is looking for acquisitions. To reduce dependence on the automotive component manufacturing business, Motherson Sumi Systems Ltd. plans to diversify into sectors like aerospace, defense, healthcare and information technology, a senior executive of the company told Mint. The Noida-based company aims to generate around 25% of its total revenues from these new business ventures in the next five years, and will look at acquisitions and joint ventures to grow in these sectors. According to Laksh Vaaman Sehgal, Director, Motherson Sumi Systems, the company will unveil its plans regarding the new businesses in November,2020. "We are envisaging that in the next five years around 23-25% of our revenues will be diversified out of non-automotive. So, that we have other avenues of growth. We will build on the same strength that we have done in the automotive space. To reach the target of 20-25% there has to be acquisitions as well and we will use similar strategies that we used in automotive," Sehgal told Mint.