[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Thursday, 18 December, 2003, 13:48 GMT
Infosys makes first overseas buy
Infosys HQ
India's leading software firm, Infosys, has snapped up Australian software firm Expert Information Services (EIS) - its first overseas acquisition.

The all-cash deal is valued at $22.9m (13.5m), and is expected to be completed by the first week of January.

Infosys chairman NR Narayana Murthy said EIS would be renamed Infosys Technologies (Australia) after the deal goes through.

The company has been hunting for a buy since 1999, when it floated in the US.

Hunt for buys

Mr Murthy added the Bangalore-based firm had looked at 135 companies since it listed on New York's technology-heavy Nasdaq stock exchange.

Infosys said EIS is one of Australia's leading IT service providers, specialising in designing, building and integrating business solutions and products.

The firm employs 330 staff and has around 40 clients - mostly in the telecoms sector.

Infosys has more than 19,000 employees in more than 30 offices worldwide and achieved a turnover of $764 million for the financial 2002-2003 financial year.


SEE ALSO:
India's Infosys keeps on growing
10 Oct 03  |  Business
Outsourcing lifts Infosys profits
10 Jul 03  |  Business
Infosys shares plunge on results
10 Apr 03  |  Business
Thailand targets Infosys success
03 Mar 03  |  Business


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific