Infosys bags project from Aussie software giant, Mincom

By agencies   |   Thursday, 08 September 2005, 19:30 IST
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MELBOURNE: Indian information technology (IT) giant Infosys has bagged a software development project from one of Australia's largest software developers, Mincom. A spokeswoman of the Brisbane-based software development company confirmed that the company had an agreement with Infosys to do some development work. She said: "They have done some overflow development work for us. It is an ongoing arrangement." Infosys CEO Narayana Murthy said he was pleased with the acquisition of the software development order from the Aussie company. "We have met all our criteria, including that the composite company should get to a level of profitability, 20 percent plus, that we are used to. There is an earn-out period, and over that period the business has to meet certain targets, and so far it has done pretty well," said Murthy. He said that his company was helping Mincom "accelerate their progress and their time to market" According to Murthy, offshoring to India was part of a much broader trade picture that was allowing Australia to manage a growing trade surplus with India, with Aussie exports to India touching $5.5 billion. "No one in Australia can be upset that India is doing a little export to Australia. Trade is loaded so heavily in favor of Australia," he said.

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