Infosys Technologies has bought three captive BPO's from Netherlands based Philips NV's in a deal pegged at $250 million.

As part of the agreement, Philips will enter into a seven-year contract with Infosys BPO to provide Finance & Accounting (F&A) services and the processing of purchasing orders.

Infosys will also acquire three shared service centers located in India, Poland and Thailand from Philips.

"Philips will be able to focus on their core business and Infosys will be able to get multi year contract in finance and administration," said S Gopalakrishnan, CEO, Infosys Technologies.

"As part of this deal, Infosys will take three of their facilities. This helps our presence in important markets like Europe. It will add to our global presence by adding 700 employees in Poland," Gopalakrishnan added.

Infosys' last acquisition was Expert Systems in 2003 for $22.9 million. The deal got Infosys 40 clients, most of which were in telecom and financial services space.

Source:1

Prashanth Rai