Click to play videoNew Delhi: Infosys has bought the captive BPO division of Philips for 250 million dollars. The contract is seven-year long and the IT bellwether is looking forward to hiring professional from the BPO domain.
The deal is in fact one of the largest by an Indian firm and puts Infosys among the top-five in the finance and administration area globally.
“This is a 7-year long contract that weighs 250 million dollars approximately. We will be functioning in the area of finance and administration mainly. Some of the back-office functions like purchase will also be covered," Infosys MD and CEO S Gopalakrishnan told CNN-IBN.
This would involve taking over three different centers across Poland, India and Thailand and increasing headcount to over 1,400 employees. It would create opportunities for Infosys in finance and administration domain,” he added.
The seven-year contract makes Infosys “less susceptible” to the rupee's appreciation, TV Mohandas Pai head of human resources at the Bangalore-based company was quoted by Bloomberg.
Infosys is lagging behind Tata Consultancy Services Ltd. and Wipro Ltd., which have spent more on acquisitions in recent years. Wipro, India's third-largest computer-services provider, has spent $535 million since December 2005 making 10 acquisitions, including the $32 million purchase of Finland's Saraware Oy, a wireless-design company, in June last year.
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