Infosys plans acquisitions in Europe
Infosys planned to make acquisitions in Europe. This was an effort of leveraging offshoring to cut costs, said the Indian IT company.
These acquisitions would include purchasing facilities, technology, and back office service arms of European companies. Taking over these companies' employees would also be included in the acquisition terms. In this way, Infosys can add committed business while it speeds up or eliminates the recruitment process for staff with client-facing roles.
The revenue coming from Europe made up 23% of the company's revenue. The firm aimed to increase this rate to 40%. In addition, Infosys also wanted to lessen its dependence on the United States, which is a major contributor to the company's revenue stream.
The only significant European acquisition of the company so far was Lodestone Consulting. Infosys bought the Switzerland-based company for INR2,000 cr. This acquisition added 750 consultants and 200 clients from manufacturing, automotive and life sciences industries.