Thursday, December 18, 2003
Infosys acquires local Expert Simon Hayes DECEMBER 18, 2003
INDIAN outsourcing giant Infosys has given itself a leg-up on sub-continental IT service competitors by acquiring Melbourne-based Expert Information Services in a $31 million deal. Expert, which has contracts with Telstra and National Australia Bank, logged total revenues of $46.7 million for the fiscal year ended June 30, and a net profit after tax of $7 million. The acquisition gives Infosys, which has thus far been battling head-to-head with other outsourcers like Satyam and Tata, a significant advantage in terms of local customers and experience. While successful in the US, Indian companies have generally found it difficult to convince Australian CIOs and boards of their commitment to the local market.
http://australianit.news.com.au/articles/0,7204,8202491%255E15306%255E%255Enbv%255E,00.html