Infosys opens its subsidiary in Latin America

Bangalore, Aug 21 (UNI) IT giant Infosys Technologies Limited (NASDAQ:INFY) today announced creation of the company's first Latin American subsidiary and opening of the development center and office for the region based in Monterrey, Mexico.

The subsidiary, Infosys Technologies S. De RL De CV, provides the company's full range of business consulting and information technology services for clients in all industries including banking, financial services, retail, consumer packaged goods, resource, energy and utilities. The center provides key offerings in business process outsourcing, infrastructure management and packaged solutions implementation.

"The world continues to flatten, unlocking Mexico's potential as a major business center and solidifying its role as a strategic location for technology innovators such as Infosys," said Mexico Secretary of the Economy Dr. Eduardo Sojo.

After examining several countries in the region, Infosys chose to establish a presence in Mexico because of the broad language skills available in the region, its geographical proximity to Canada, the US and Europe. Latin America is a strong emerging market and one where many of Infosys' clients have operations already.

"The combination of human and intellectual capital, nurturing business community and entrepreneurial spirit found in Monterrey positions the state for amazing IT service growth," said Governor of the State of Nuevo Leon Jose Nativdad Gonzalez Paras.

Mr Mohit Joshi was appointed to head the new subsidiary. Mr Joshi, formerly a group engagement manager with the company's banking and capital markets organization has more than 12 years of client and leadership experience.

"Our clients are exploring opportunities to mitigate risk while expanding operations into the burgeoning market," said Infosys Technologies Chief Executive Officer S Gopalakrishnan "The facility will help us establish our services in the Central time zone which allows us to provide better support to our clients located across multiple geographies." For the first year, Infosys Technologies S. De RL De CV will have more than 250 seats. By its third year of operation, the Monterrey facility was expected to employ nearly 1,000 employees. Local and international hires will participate in the standard Infosys training programs to ensure global consistency.

UNI