Infosys Interested in buying the UK IT major Sage Group for about 4.6 bln eur?

BANGALORE, Sep. 19, 2007 (Thomson Financial delivered by Newstex) -- Infosys Technologies (NASDAQ:INFY) Ltd is rumoured to be interested in buying the UK IT major Sage Group PLC for about 4.6 bln eur, bidding along with Microsoft Corp (NASDAQ:MSFT) , Goldman Sachs (NYSE:GS) and Intuit Inc (NASDAQ:INTU) , according to media reports.

'We do not comment on market rumours,' Infosys spokesperson told Thomson Financial News when asked about the acquisition.

Earlier in July, there were rumours that Infosys was eyeing Capgemini, and also Siemens (NYSE:SI) ' consulting services in the high-end engineering area.

India's second-biggest software-maker, which has a cash reserve of 1.6 bln usd, recently bought the captive division of Royal Philips Electronics (NYSE:PHG) NV's finance and accounting business process outsourcing unit for 28 mln usd.

Original Story

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

Infosys looking to make first UK acquisition

Indian IT services firm Infosys Technologies is considering making its first acquisition in Britain, as part of a strategy designed to deepen its global footprint.

Dalian WEF is winning a place on world map

BG Srinivas, who heads Infosys's operations in EMEA (Europe, Middle East and Africa), said the company was on the lookout for deals in its key European markets.

advertisement

"We are looking for opportunities that will transform our business in Europe," he said. "That could be in the UK, France or Germany." He declined to comment on whether any talks had been held with potential targets.

Mr Srinivas was speaking during a visit to the coastal city of Dalian in north-eastern China to coincide with the World Economic Forum summit.

Last week, Infosys, India's second-biggest computer services firm, announced the launch of the UK element of its graduate employment scheme, which will involve 25 graduates spending four months in the city of Mysore in India, before returning as 'Infoscions' to work in the company's UK operations.

The IT services industry is the most sought-after employment sector among Indian graduates, with fierce competition for jobs with Infosys and its competitors, which include Tata Consultancy Services and Wipro Technologies. Last year, Infosys, which has been grappling with the impact of the strong rupee on its earnings outlook, had 1.3m applications for its annual recruitment programme.

Infosys has been engaging in efforts to improve the image of the company, and the outsourcing industry, in the UK, where there has been a fierce debate on customer service levels, and the implications for British jobs.

Mr Srinivas said the company was involved in initiatives to improve UK computer literacy, as well as projects to lower the skills deficit affecting people entering the workforce.

Original Story