Workmen prepare an electronic screen at Infosys Ltd. (Photographer: Jason Alden/Bloomberg)

Infosys’ President Hints At ‘Significant’ Acquisitions This Year

Infosys Ltd. is working closely with bankers and might end up doing “something significant” on the acquisition front this year, according to its President Mohit Joshi.

India’s second-largest information technology company is focused on making strategic investments and disinvestments under the leadership of Salil Parekh, its new managing director and chief executive officer. Infosys’ deal value for trailing 12-months ended September came at $4.9 billion—the highest ever for the company. This was also the first time its total contract value for fresh deals won crossed $4.2 billion since September 2016.

Also read: Infosys Buys ABN Amro’s Mortgage Services Unit Stater For €127.5 Million 

Infosys also planned to sell three of its subsidiaries—Kallidus, Skava and Panaya—it had bought in 2015 during Vishal Sikka’s tenure. The IT services provider gave up on its plan to sell Skava and Panaya, at least for the time being, in January this year.

The Panaya deal was one of the issues that led to differences between Co-Founder NR Narayana Murthy and the Infosys board, eventually leading to the resignation of Sikka as CEO.

No-Breaker Brexit

  • No significant impact of Brexit seen on Infosys
  • Brexit uncertainty impacting clients and their investment plans and thereby is a matter of concern for the company
  • Focusing on localising of talent; acquisitions helped in building a talent base

Also read: Infosys Eyes Acquisitions, Charts A Three-Year Roadmap To Accelerate Growth

Watch the full interview here:

Also read: Brexit Is Worse Than Y2K For Customers, Says Infosys’ Mohit Joshi