Infosys to acquire Philips Global's finance BPO
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Infosys to acquire Philips Global's finance BPO

By SiliconIndia   |   Tuesday, 17 July 2007, 07:00 Hrs
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Bangalore: Infosys Technologies, IT major is set to acquire Philips Global's finance and accounts BPO for an assured revenue of $200 million spread over five years, reported Business Standard. Along with all the costs, in the similar manner that TCS had acquired the operations of the Pearl Group in the U.K., Infosys will be taking over the subsidiary.

As soon as the takeover is completed, Infosys will bring down costs and restructure operations to make it a paying proposition. In its 25 year history, this will be Infosys' second acquisition after it had acquired Expert Information Services in Australia for around $22.9 million in 2003.

The acquisition of Philips will bolster the capabilities and reach of Infosys' BPO. Philips' F&A captive has operations in Chennai, Warsaw (Poland) and Bangkok. The global staff strength of the captive is around 1,500 with 500 employees working out of the Chennai centre, which was set up in 2004. Infosys' BPO has close to 11,000 employees. Infosys, currently has cash reserves of $1.4 billion. No official comments were available from the company. Though the company is conservative in the M&A, the company has grown to $3.5 billion and employs around 71,000 professionals.

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