Infosys May Spends As Much As $500 Million On European Acquisition

Posted on Apr 16 2012 - 9:08am by Editorial Staff

India’s computer-service provider Infosys is preparing itself to spend as much as $500 million on a single acquisition on a European deal. The company make another attempt to acquire a company which it had walked away from a plan back in 2008. The company is UK-based Axon Group Plc for 407 million pounds ($644 million), the company bid in 2008, said Chandrashekar Kakal, the company’s global head of business IT services.

“We do have cash, but we are looking for a company which adds to our capability and becomes complementary to our growth rather than becoming a laggard,” he said. In 2008, Infosys decided against further pursuing a plan to buy Axon after its bid was trumped by HCL In 2006, Infosys spent $115 million to purchase Citigroup’s stake in Progeon, a back-office service provider controlled by Infosys.

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