Infosys subsidiary Infosys BPO has signed a definitive agreement to acquire all share capital in strategic sourcing and category management services provider Portland Group.
The acquisition is expected to be completed by early January 2012, subject to certain closing conditions being met and the purchase consideration for the deal is AUD 37m, subject to customary post-completion adjustments.
To create a market offering that will positively impact client’s business efficiency and effectiveness, Portland Group’s expertise in strategic sourcing and category management services is expected to complement Infosys BPO’s global Sourcing & Procurement capabilities.
Infosys BPO CEO and manging director Swaminathan D said the acquisition would significantly deepen Infosys’ capabilities and domain expertise in its sourcing and procurement practice.
"Further in a dynamic marketplace such as Australasia this will strengthen the top-end of our service offering in the strategic sourcing and category management functions. This will also enhance the competitiveness, spread of offerings and global reach for our clients," said Swaminathan.
Portland Group CEO Gavin Solsky said the combination of Portland Group and Infosys will provide Portland’s clients with a highly compelling proposition that does not currently exist in the sourcing and procurement services market in Australia.
"It will allow us to offer our clients a truly integrated and globally competitive solution to deliver procurement benefits in the most effective and efficient way possible," said Solsky.
