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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Nandu who wrote (4174)	4/30/1999 8:40:00 PM
From: Bala	Read Replies (1) \| Respond to of 12475

Infosys to acquire companies in US ciol.com Infosys Technologies is looking into opportunities of acquiring new companies, preferably in the US. This was indicated by N R Narayana Murthy Chief Executive Officer of the company. Speaking to the media at the national conference of Confederation of Indian Industry (CII), Murthy said, 'If there is a big opportunity which is value for money and synergy with our business, we will go for it.' Infosys recently raised US $70.38 million through American depositories receipts (ADRs), part of which could be used for fresh take-overs. The money raised through the ADRs would also be used for setting new infrastructure in India and in the US, Murthy said. Murthy also indicated that the company may go for another round of Employees Stock Option Plan (ESOP) in the near future. He added that in the shareholders meeting which is scheduled for June 12, it will come up for discussion. On the financial performance of the company during the current fiscal, he said, he was not in a position to make any forward looking statement as he was bound by the American Securities Exchange Commission (SEC) rules since the company had been listed on the NASDAQ. Earlier at the CII session on corporate governance, Murthy said the future managers would need to have an innovative mind-set rather than the barrier mind-set. He should have the ability to set standards, be transparent and learn to forget since the technology is changing fast. Murthy said that if India has to grow in the next century, 20 percent of Gross Domestic Product (GDP) has to come from exports. In the next five years, exports has to grow 15 to 18 percent from the current level of 8 to 9 percent to achieve the desired growth, he added. Excerpted from The Hindustan Times, 29 April 1999 ------------- Sonata net spurts 75% to Rs 9.7 crore Indian banks face medium risk from Y2K bug, says Moody's VSNL, Intelsat sign pact for DTH Satyam, Bharti get FIPB approval Indian firm to supply engineers to Microsoft DoT, MTNL to raise debt of Rs 40 billion this fiscal Microsoft certificate for Global Tele New tariffs to cost DoT Rs 19 billion NIIT puts US acquisition plan on startup mode IBM to launch Ethernet products Infosys to acquire companies in US