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India's Infosys to buy Australian IT firm for 22.9 million dollars
NEW DELHI (AFP) Dec 18, 2003
Infosys Technologies, India's second-largest software exporter, said Thursday it was acquiring Australian IT company Expert Information Services for 22.9 million US dollars.

"We are excited about this transaction," K. Dinesh, an Infosys Technologies board member, said in a company statement.

"Our global delivery model combined with the service capabilities of Expert will enable us to be a premier player in the growing Australian market," he added.

Expert Information Services Pty. Ltd. is one of Australia's leading IT service providers and specialises in designing, building and integrating business solutions and products.

The company notched a net profit of 5.2 million dollars in the year ended June on revenues of 34.6 million dollars.

Infosys has over 19,000 employees in over 30 offices worldwide and its total revenues for the fiscal year to March 2004 were forecast at between 46.2 billion rupees (one billion dollars) and 46.6 billion rupees.

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