India Infosys To Establish Development Center In UK
BOMBAY (Dow Jones)--Infosys Technologies Ltd. (INFY) said Thursday that it will establish its first European proximity development center in U.K.
"This decision has been triggered by a five year contract with Sainsbury's Supermarkets Ltd., one of the U.K.'s largest supermarket chains," the company said in a statement.
The contract is valued at GBP28 million pounds. Throughout the term of the contract, Infosys will provide development and maintenance support to Sainsbury's for its finance, human resources, and some marketing and warehousing applications, the statement said.
"Our European proximity development center in the U.K. enables us to be physically near our customers and work in the same time zone - as well as working closely with staff in India to reduce time to market," Srinjay Sengupta, head of European business development for Infosys said in the statement.
Thursday, on the Bombay Stock Exchange shares of Infosys Technologies closed up INR752.05, or 8.0%, at INR10,153.
Infosys is one of India's leading blue-chip companies and the first Indian company to list on Nasdaq.
Infosys' American Depository Receipts closed up $12.75, or 4.72%, at $283 on NASDAQ Wednesday. |
