Outsourcing deal triggers Infosys up

MUMBAI: Infosys Technologies stock rallied on Thursday after the company purchased contract from Royal Philips Electronics. In a $250-million seven-year outsourcing deal, structured as an acquisition, Infosys Technologies will take on board 1,400 employe es of Royal Philips Electronics in three nations including India. At 11.50 am, the stock was up Rs 38 or 1.90 per cent at Rs 2,027 on the NSE today.

As part of the deal, Infosys BPO will provide finance and accounting (F&A) services and the processing of purchase orders to Philips.

Infosys will pay $28 million upfront to acquire the Philips' BPO assets on 'as is where is' basis in Poland, Thailand and India. Philips' shared service centre at Lodz in Poland is 780 strong, while the company has some 400 people in Chennai and 175 in B angkok.

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