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Infosys buys Gen-i's software solutions biz
Infosys’ Australia and New Zealand unit has acquired the software solutions business of
New Zealand's Gen-i for an undisclosed amount. Infosys will take over 110 employees and
contractors from Gen-i, which would raise its New Zealand staff strength to up to 150
people. The company also plans to add 15–30 new hires immediately. Gen-i is the
corporate information communication technology (ICT) arm of Telecom New Zealand.
As near-shore delivery from New Zealand for Australian clients and global delivery headed
by local management are among the joint growth strategies planned, the partnership also
has a significant potential to further grow New Zealand-based technology jobs. Infosys has
announced that the current software solutions management team will continue to lead the
New Zealand office of the company. This deal has no significant impact on the financials
of the company. Hence, we maintain our Buy recommendation on the stock with a target
price of `3,435.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Infosys buys Gen-i's software solutions biz
Infosys’ Australia and New Zealand unit has acquired the software solutions business of
New Zealand's Gen-i for an undisclosed amount. Infosys will take over 110 employees and
contractors from Gen-i, which would raise its New Zealand staff strength to up to 150
people. The company also plans to add 15–30 new hires immediately. Gen-i is the
corporate information communication technology (ICT) arm of Telecom New Zealand.
As near-shore delivery from New Zealand for Australian clients and global delivery headed
by local management are among the joint growth strategies planned, the partnership also
has a significant potential to further grow New Zealand-based technology jobs. Infosys has
announced that the current software solutions management team will continue to lead the
New Zealand office of the company. This deal has no significant impact on the financials
of the company. Hence, we maintain our Buy recommendation on the stock with a target
price of `3,435.
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