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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (5161)7/22/1999 7:45:00 AM
From: janet kuhnert  Read Replies (1) of 12475
 
New Delhi, July 22 (Bloomberg) -- Infosys Technologies Ltd. is planning to acquire a U.S.-based software company and grow 50 percent in the next two years, the Business Standard newspaper reported, citing unidentified fund managers who were given a presentation by Infosys earlier this week. Infosys, which provides custom software development, wants to acquire a company in the U.S. so that it can get greater access to that market and its higher profit margins than domestic business. The acquisition will be funded by the $60 million the company raised from the sale of its American depositary receipts earlier this year, the paper said.

Infosys Technologies stock fell 6 percent to 4,775 yesterday at the Mumbai Stock Exchange.
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