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Infosys Technologies To Acquire US-based insurance BPO McCamish Systems
By Mike Martinez for CEOWORLD Magazine Updated:November 12, 2009
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Infosys Technologies Ltd (NASDAQ:INFY) (INFY.BO) BPO, announced that the company has signed a definite agreement to acquire all of the outstanding interests of US-based business process solutions provider McCamish Systems LLC.
McCamish has about 260 employees working out of Atlanta, and has about 39 clients.
The upfront consideration for the deal is $38 million with up to an additional $20 million payable to the sellers if McCamish Systems achieves certain financial targets in the future.
Infosys (BOM:500209), which had cash reserves of Rs 13,976 crore ($2.97 billion) for quarter ending ending September 2009, has been slow on the acquisitions front compared to its peers like Tata Consulting Services (TCS) and Wipro.
Infosys’ inorganic growth track record reads like this. It acquired Australian IT services firm Expert Information Services for $30 million back in 2003. It bought out the captive operations Royal Philips Electronics NV in 2007. Last year, it was close to acquiring UK’s SAP major Axon Group, which was later snapped up by HCL technologies.
Infosys, which had cash reserves of Rs 13,976 crore ($2.97 billion) for quarter ending ending September 2009, has been slow on the acquisitions front compared to its peers like Tata Consulting Services (TCS) and Wipro.
Infosys’ inorganic growth track record reads like this. It acquired Australian IT services firm Expert Information Services for $30 million back in 2003. It bought out the captive operations Royal Philips Electronics NV in 2007. Last year, it was close to acquiring UK’s SAP major Axon Group, which was later snapped up by HCL technologies.
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