Infosys to buy Philips Global''s finance BPO
17 Jul 2007
Bangalore: IT giant Infosys Technologies is planning to acquire Philips Global''s finance and accounts BPO
Infosys will take over the subsidiary along with all the costs in the similar manner that TCS had acquired the operations of the Pearl Group in the UK.
Informed sources said, once the takeover is completed, Infosys will bring down costs and restructure operations to make it a paying proposition.
This will be Infosys'' second acquisition in its 25-year history, after it had acquired Expert Information Services in Australia for around Rs104 crore ($22.9 million) in 2003.
Infosys'' BPO has close to 11,000 employees and has posted a top line of around Rs662 crore and a net profit of Rs151 crore in FY07.
Infosys, the country''s second largest software services exporter, currently has cash reserves of $1.4 billion. No official comments were available from the company.
Usually
conservative in the M&A game, the company has grown
to $3.5 billion and employs around 71,000 professionals.
