Infy BPO to acquire captive operations of customers
Through the acquisition, the company has gained an entry into the Poland and other European regions. "We are open to similar takeovers if the right deal comes through. We are not looking at opening any new centers across the globe, but if such a deal comes along that requires them to have a facility, then we would go ahead," Infosys BPO CEO Amitabh Chaudhry told The Economic Times. The firm has entered into a seven-year contract with Royal Philips Electronics of Netherlands to provide finance and accounting services and the processing of purchasing orders in a deal valued at $250 million.
The consolidated revenue for the firm during the FY09 stood at $316 million, recording a year-on-year growth of around 26 percent. Meanwhile, Infosys continues to see customers lower their back office spending. During FY09, Infosys BPO took a hit of around $16-17 million because of client ramp downs and cross currency volatility. However, the company will expand in newer markets of continental Europe, Latin America and Asia. "We have already appointed a new sales head for the Latin America region, besides tapping into newer verticals," Chaudhry said.