×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Infosys bags $250 mn deal, acquires 3 Philips centres

Infosys bags $250 mn deal, acquires 3 Philips centres
Comment E-mail Print Share
First Published: Wed, Jul 25 2007. 05 37 PM IST
Updated: Wed, Jul 25 2007. 05 37 PM IST
PTI
Bangalore: Infosys Technologies won a $250-million contract from Royal Philips Electronics of the Netherlands and said it will acquire three BPO centres from the Dutch company for $28 million.
As part of the outsourcing contract agreement, Philips will enter into a seven-year contract with Infosys BPO to provide finance and accounting (F&O) services and the processing of purchasing orders.
“The deal size is approximately $250 million over seven years,” Infosys’ chief operating officer, S D Shibulal told PTI. “We are acquiring three shared service centre located in India, Poland and Thailand from Philips. We are making a one-time payment of $28 million and acquiring the three centres on a as-is-where-is basis.”
The acquisition expands Infosys’ global network, particularly strengthening its European operations, with 1,400 skilled BPO staff joining the NASDAQ-listed IT and consulting major.
The multi-year contract is among the largest F&A deals in BPO (business process outsourcing) from India.
Comment E-mail Print Share
First Published: Wed, Jul 25 2007. 05 37 PM IST
More Topics: Infosys | Philips | BPO | Corporate News | MAs |