Infosys Technologies To Acquire Philips Global''s Finance BPO

Chennai: Infosys Technologies is set to buy Philips Global''s finance and accounts BPO for an assured revenue of $200 million spread over five years. Infosys will be acquire the subsidiary along with all the costs in the similar manner that TCS had acquired the operations of the Pearl Group in the UK. Once the acquisition is completed, Infosys will bring down costs and restructure operations to make it a paying proposition. The acquisition of Philips will bolster the capabilities and reach of Infosys BPO, enabling it to deliver round-the-clock. Philips F&A captive has operations in Chennai, Warsaw (Poland) and Bangkok. Infosys BPO has close to 11,000 employees and has posted a top line of around Rs 662 crore and a net profit of Rs 151 crore in FY07. Infosys, the country''s second largest software services exporter, currently has cash reserves of $1.4 billion. Usually conservative in the M&A game, the company has grown to $3.5 billion and employs around 71,000 professionals.