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Infosys BPO has signed an agreement to acquire all of the outstanding share capital in Australia-based Portland Group. Infosys expects the acquisition, which will cost Australian $37 million (around Rs 195.6 crore), to be completed by early January 2012.
Portland Group, which was founded in 1999, is headquartered in Sydney and has offices in Melbourne, Brisbane, and Perth. The company, which has around 113 employees, reported revenue of approximately Australian $31.3 million (around Rs 165.5 crore) for the fiscal year ending June 30, 2011.
Mr Swaminathan D, Chief Executive Officer and Managing Director, Infosys BPO, said, “This acquisition would significantly deepen our capabilities and domain expertise in our sourcing and procurement practice."
Mr Gavin Solsky, Chief Executive Officer, Portland Group, said, “We believe the combination of Portland Group and Infosys will provide our clients with a highly compelling proposition that does not currently exist in the sourcing and procurement services market in Australia.”
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