Infosys keen on overseas acquisitions
By siliconindia   |   Tuesday, 23 June 2009, 22:33 IST   |    1 Comments
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Infosys keen on overseas acquisitions
Bangalore: Indian software major Infosys is expected to make acquisitions overseas, as most of the opportunities are outside India. Addressing the company's 28th Annual General Meeting (AGM) in Bangalore, Kris Goplakrishnan, CEO Infosys said,"Our opportunity and requirement is more outside the country. However, there is no challenge in growing in India." Infosys has been constantly stating that it would be looking for acquisitions overseas. However,months back, the company had failed its bid for Axon, the U.K.-headquartered SAP services company which was later won by HCL Technologies with a higher bid. The company has bagged three large contacts including a digitization project from the income-tax department and two contracts from power distribution companies in the past quarter. On loss making units of Infosys subsidiaries in China and consulting, Gopalakrishnan said that they would look forward at turning these two units profitable in the next one to two years. Infosys China has reported a loss of about Rs11 Crore in FY09 and the consulting unit posted a loss about Rs 59 Crore. However, N.R.Narayana Murthy, Chief Mentor at Infosys said that the company has increased its focus on new engagement models, and realigning of cost structure to protect margins. "We continue to focus on research, innovation and environment sustainability."

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