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Business News/ Companies / Infosys bags $250 mn deal, acquires 3 Philips centres
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Infosys bags $250 mn deal, acquires 3 Philips centres

Infosys bags $250 mn deal, acquires 3 Philips centres

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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.

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Published: 25 Jul 2007, 05:37 PM IST
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