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Infosys buys NZ Gen-i’s software solutions biz

Infosys buys NZ Gen-i’s software solutions biz
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First Published: Wed, Jun 08 2011. 12 59 PM IST
Updated: Wed, Jun 08 2011. 12 59 PM IST
Mumbai: Infosys , India’s second-biggest software services exporter, said on Wednesday its Australia and New Zealand unit has acquired the software solutions business of New Zealand’s Gen-i for an undisclosed sum.
Infosys said in a statement it will take over 110 employees and contractors from Gen-i, which would raise its New Zealand staff strength to up to 150 people. It also plans to add 15-30 new hires immediately.
Gen-i is the corporate information communication technology (ICT) arm of Telecom New Zealand .
“Since launching our first New Zealand office 18 months ago, we have been studying the market to find the right strategic partner,” Infosys Australia & New Zealand Chief Executive Jackie Korhonen said in a statement.
“Our partnership with Gen-i makes sense because we share core values and complement each other’s strengths to fill some critical gaps in the marketplace.”
The partnership has significant potential to further grow New Zealand-based technology jobs, the company said.
Last month, Infosys’ chief executive S. Gopalakrishnan told Reuters the company is on the hunt for acquisitions in Europe and Japan in areas including healthcare and public services.
Several Indian technology players including Infosys’s rivals Tata Consultancy Services and Wipro have been looking for overseas acquisitions to boost growth amid growing competition from global rivals, and to reduce dependency on the U.S. market.
At 12:27pm, Infosys shares were trading down 0.2% in a weak Mumbai market.
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First Published: Wed, Jun 08 2011. 12 59 PM IST
More Topics: New Zealand | Gen-i | Infosys | Software | Technology |