Infosys (INFY) To Expand In Europe

Infosys (NASDAQ: INFY) has unveiled aggressive plans to increase its presence in Europe. According to a statement released by its CFO V. Balakrishnan, India’s second largest IT services firm is expected to spend up to $500 million on acquisitions in Europe. This amount is approximately 10 percent of their revenue.

Mr. Balakrishnan further stated that these acquisitions will serve the purpose of enhancing its geographical presence. Infosys has evinced interest in acquiring firms in the niche areas of healthcare and consultancy. Although Infosys is looking at firms in Europe, it has also expressed interest in acquiring firms in the US as well.

These prospective acquisitions in Europe will help the firm in accessing the uncharted markets which, so far, had been slow on outsourcing. Infosys currently has cash reserves to the tune of $2.8 Billion. Infosys had recently acquired three firms including insurance BPO service provider McCamish systems for $58 million.