Wednesday, September 19, 2007

Infosys, Microsoft In Race To Buy UK's Sage

India’s second largest IT services exporter Infosys and Microsoft are in race to buy British software company Sage Group. Besides these two companies, French IT company Capgemini, Intuit, and Goldman Sachs too are in race to buy the company for a rumoured € 4.6 billion.

There are also rumours doing round with a falling dollar and rising rupee, the Bangalore headquartered Infosys might look at buying French IT company Atos Origin which is strong in the IT services market in Europe. BG Srinivas, head of Infosys operations in EMEA has quoted, “We are looking for opportunities that will transform our business in Europe.... That could be in the UK, France or Germany.”

Infosys and a spate of other Indian IT services companies such as TCS, Wipro and Satyam are looking at buying European companies to become strong Europe and offset dependence on the US. Most Indian IT companies get their revenues from the US, however with a falling dollar, US no longer exciting. In contrast Euro has been getting stronger by day.

Original Story

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