Infosys Technologies

Cluster: Evergreen

Recommendation: Hold

Price target: Rs2,505

Current market price: Rs2,323

Infosys BPO to acquire McCamish
Infosys BPO Ltd, a subsidiary of Infosys Technologies (Infosys), has entered into a definitive agreement with McCamish Systems LLC (McCamish) to acquire all of its outstanding interest. Infosys would pay USD38 million as upfront consideration for the deal and an additional USD20 million on the condition of achievement of certain financial target by McCamish in the future. The acquisition is expected to be completed by the end of CY2009 subject to the satisfaction of certain closing conditions.