Infosys plans buyouts in Oz, Europe, Latin America

Kolkata, Aug 6: Even amid the financial slump due to the global crisis, India's second largest outsourcer, Infosys seems to be doing good. The company is reportedly working on 12 to 15 deals worth 1 billion dollars in the July-September quarter.

Speaking at an industry meet, CEO, S Gopalakrishnan said, "Typically in a quarter we have 12-15 deals in the pipeline and it continues to remain the same in the current quarter."

Apart from this, the company is planning to acquire IT companies serving energy and health care sectors in geographies as diverse as Latin America, Europe and Australia. It has set aside 450-500 million dollars particularly for this purpose.

"Infosys is looking at companies serving sectors such as energy and healthcare," said Gopalakrishnan.

With this buy out, Infosys is aiming at diversifying the client base. This acquisition strategically comes at the time when the traditional revenue streams like banking, financial services and insurance sector, besides retail and manufacturing has fallen flat.

OneIndia News