Infosys to renew few of its contracts at premium

Mumbai, Dec 11: IT major Infosys Technologies today announced that the company is renewing a few of its contracts at a premium.

Talking to reporters on the sidelines of the announcement of his company's name being added to the Nasdaq-100 index since December 18 here, Infosys chief financial officer V Balakrishnan hinted that ''it is not across the board, but a few contracts we are able to negotiate at a higher price.'' The company CEO and MD Nandan Nilekani said Infosys may acquire a few companies in near future. However, he maintained that the acquisitions will be smaller in nature.

''Our acquisition strategy is to fill some of the gaps in specific things like getting into new geographies,'' he added.

Infosys Technologies, along with other companies like Level 3 Communications Inc and Vertex Pharmaceuticals Inc, will join the Nasdaq-100 index next week during the exchange's annual re-ranking of the index.

UNI