Infosys BPO to acquire Australia's Portland Group for around A$37 million
20 December 2011
Infosys BPO Ltd, the business process outsourcing subsidiary of information technology major Infosys Ltd, today announced the signing of a definitive agreement to acquire all of the outstanding share capital in Australia's Portland Group Pty Ltd, provider of strategic sourcing and category management service.
Infosys will acquire Portland Group in a deal worth A$37 million. The acquisition is expected to be completed by early January 2012, subject to meeting customary closing conditions, Infosys said in a filing with the Bombay Stock Exchange (BSE).
Portland Group, founded in 1999, has several large ASX 200 organisations within the Australia region as clients. The Sydney-based company has offices in Melbourne, Brisbane and Perth in Australia and had reported revenues of A$31.3 million for the year ended 30 June 2011.
Portland Group has expertise in strategic sourcing and category management services, which will complement Infosy's BPO's global sourcing and procurement capabilities to create a market offering that will positively impact client's business efficiency and effectiveness, Infosys said in a release.
Infosys BPO, set up in 2002, focuses on integrated end-to-end outsourcing and delivers transformational benefits to clients through process engineering. Besides India, the company operates in the Czech Republic, China, the Philippines, Poland, Mexico, the US and Brazil.
As of 30 September 2011, Infosys BPO employed 20,620 people and had reported $426.8 million in revenues for the 2-10-11 financial year.